be careful of gurus, page-6

david,


let me help you take some of the speculation out of it for you :)


MEL currently only has a MC of $90m. FACT.


MEL has delivered a compounded return of ~19% annual increase in 3P reserves over the past four years. FACT.


MEL has an industry low EV of 381PJ of 2P reserves giving them an E/V ratio of JUST 0.23$/GJ. FACT.


MEL has substantial exploration upside in both conventional and Coal Seam Gas resources that have been well reported through finds at KingFisher and ThornBill. FACT.


MEL has money in the budget to execute its drilling an exploration program as it stands. FACT.


MELs Harrier pilot 02 is very likely to demonstrate a substantial improvement to the wellhead economics of the CM CSG wells as most cost is sunk in the vertical build section of the well. The Harrier02 pilot will almost TRIPLE the in-seam exposure. FACT.


The value of MELs commodity just went up when the PM announced a price on carbon in July 2012, thats 15 months away. FACT.


LNG exports from Australia have peaked to an all time high and are forecast to grow substantially into the future, underpinned by BILLIONS of dollars in long term sales and trade agreements. FACT.


In this booming industry, MEL is currently examining no less than three (Brisbane LNG, Gladstone LNG, Floating LNG) options to monetise its massive resource. FACT.


MEL will need capital in one form or another to continue expanding its resource position or advance development of that resource. They are however in a very strong position to do so with strong reserves position, blue sky to mine, and MEL owns that resource 100%. FACT.


Sorry if that comes off as a little strong Dave, but I invest before I trade and the case for value in MEL is quite strong I believe. Shelving of risk is a problem at present which might be a good call for some. I am here long term. Definitely throw MEL on the BUY pile along with some other goodies out there like ESG, imo.


As for Tom. I think you have strayed beyond the point of being reasonable. Holy has been on here (HC) for a good few years spruiking his spruik and investing in the investments of his/her choice, however I think it is a bit much to cut the man/woman down just because the share price falls. Perhaps it would be fair to draw arrows if he was talking the share down, but that is not what holy is doing at all.

We are almost at Easter again.

SF