Ann: Quarterly Activities Report and Cash Flow , page-18

re: Ann: Quarterly Activities Report and Cash... They have been stalling for a while.

We have been told for literally years that we would be surprised at the names that have come a calling to the MEL offices looking to do a deal.

The latest snippet was farm in proposals to the permits.

Of course we dont know what terms were offered by these parties and their commerciality.

Nevertheless I dont see why they cant be talking to those same parties pending NSW government review on a potential deal whereby we give up a % of the permit for them funding the drilling to prove up the commerical nature of the resource as quickly as possible.

Its been an age old thing with this company that their announcements are crtically poor.

Instead of writing that "little effort" (what a poor poor choice of words) was spent this quarter on commercialisation talks they could have said:

"The ever changing NSW regulatory environment is an extremely challenging impediment to business investment in the State. However we continue to engage with potential partners across the range of commercial avenues open to the company pending formalisation of final regulations that will provide investment and business certainty. As noted these options include local sales, "farm in" arrangements and broader gas sale agreements. Management will continue to work hard to deliver a commericalisaiton strategy going forward despite the regulatory challenges facing the company."

Come on PH- time for you to earn your bucks and get some confidence going in the shareholder base. You need to play the hand (however bad) you were dealt.