I think we have all had enough of this bulldust. Breeze and MEC struck an agreement, part of which was to put an in specie distribution to a vote. Now MEC keeps telling us that Breeze is not providing the information he must to put the distribution to a vote.
Who is playing games? We can't get hold of MEC to ask them and Breeze has not uttered a word about the future of 49.4% that MEC still hold in "his" company!
Breeze and MEC need to sort this s%&# out! It's a merry-go-round that noone is hopping off. Now that the MEC board is going under a restructure, how about they reconsider their play with Breeze and work out a deal to protect the value of our shares in PEP11 and cooperate with Breeze in doing whatever it takes to get a second drill underway?
This is the worst kind of stalemate and no shareholder is going to win in any of the companies with an interest in PEP11 until it's resolved. I have not been, nor am I still, particularly fond of Mr Breeze, but I do believe in his ability to make money for himself, and as a by product also make money for us with PEP11.
I know MEC staff used to read and contribute to these fora, and I hope they still do. Get together with Advent Energy and come up with a better agreement that gives us an opportunity to stay in PEP11, let Breeze take the bridge for a second drill, raise capital for PEP11 if required and do what MEC did before to lift the SP over $1 in 2010!
If someone doesn't get off their posterior and start cooperating, then this stalemate could go on ad infinitum. All parties also need to consider the effect of a majority NO vote by MEC shareholders for the distribution. That is, no effect - this stalling will continue forever and none of MMR, BPH or Buy will ever get to enjoy the fruits of our investment and patience.
(20min delay)