cold,hard light of day, page-3

Energiseme,

Appreciate what you are saying but Peter Henderson tells a different story. Doesn't expect MEL to be operating back here in the next couple of years.

It's a long time to have your money tied up at a significant loss.

ERM are capital raising at the present time I believe.(not sure of the reason)

If a magic wand is cast over us following the September election (which I am hanging out for) what will really change.
Barry O'Farrell has made his position crystal clear. Tony Abbott and BOF are barely on speaking terms apparently.

The major problem then lies in the protest movement which has grown heady on the perceived success of their actions. The latest news is that they have formed an anti-csg party and will be running candidates in the senate. Maybe there will be a backlash against the greens but it likely that the new government will still have problems getting their agenda through the senate.

I'm sorry if I have become pessimistic but to drive around and see them writing off one well after another is quite distressing. If these wells were viable it seems like a great waste of money.

Shareholders like Buddy have been asking the question for a long time. Why couldn't we start some form of production as we were given a production licence. A successful small operation to prove that the company could be a producer with a market and a safe operation. In some ways if would give the locals in the doubtful/ not happy camp a chance to see how things worked.

I will continue to watch MEL after the September election and will buy back in if the mood changes. It will probably take BOF being rolled in NSW by another Lib to really assure the future. Can't express how much of a disappointment this bloke is.