What choice do we have? The previous board was running the company into oblivion. It had so much debt to Advent and Asset, it had illegally removed David Breeze from his Directorship and it was that board that put MEC into suspension and kept us there "pending" a search for other investments. It had more than a year and never found any. How it could have paid for more assets is beyond me as they still had big debts and divesting MEC's shares in Advent Energy would not have made them a cent as far as I know - we all would have ended up with shares in an unlisted company, which is fine if you don't want or need easy access to your investment..
David Breeze is back on the board at a time when BPH has skyrocketed, we still have a big interest in Advent, and I believe that DB is working as best as he can to get MEC back on track. Then those who don't want to share in the fortunes that may be made in the hype leading up to Baleen can sell their shares. That's not to mention what will happen to MEC shares if there is gas discovery. I am not sure why other shareholders came into MEC if not for PEP11... what else is there really? I came in for PEP11, nothing else. But MEC is hamstrung by the other reason that I was so attracted to MEC shares - PDF status - I love the idea of paying no CGT. To my understanding, MEC can't invest any further in Advent without great growth and investment elsewhere first.
I hope DB can get MEC trading as quickly as possible, but after so long suspended and after so many problems, I am sure there is a lot of work involved and it will take time. Unlike many of the posters over on the BPH forum who seem to carry on like Advent will be drilling the day after NOPTA, there is still a long process to play out before that happens and plenty of time to make us a lot of money. If you keep your shares when MEC resumes trading, I am 100% sure you won't regret it.
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