drawing a long bow, page-8

If this is a technical move it's the best possible platform for MEL's share price.

If we have a third substantial shareholder from the energy sector that would also be very good.

Alternatively, if the third substantial shareholder is Deutsche Bank it will be a great pity.

When I refer to Arrow, I mean Shell Petrochina joint venture. This also assumes Shell & [Petrochina, CNPC, HQCEC], LNG Limited are all working together through Arrow to secure upstream supply.

Further, I think Arrow may just be taking a position above 5%. This may lead to a takeover possibly some years down the track.

The grand Shell CNPC plan being as follows:

Upstream supply from QLD and NSW - Arrow supplies both Shell Petrocchina Curtis Island JV and LNG/Hqcec FLLNG achieving the necessary expertise and cost efficiencies to maximise investment returns from both projects.

Downstream - Arrow's Curtis Island & LNG's FLLNG operate separately from a LNG production and marketing perspective.

Petrochina acquires large scale know-how via Arrow associated with Shell.

HQCEC acquires mid-scale know-how developed by LNG's OSMR technology along with developing engineering and construction expertise. In addition, the opportunity to licence, build, and fabricate LNG facilities worldwide.

Arrow roles up all the upstream expertise and efficiencies for both LNG projects.

Petrochina acquires and developes large scale upstream and downstream expertise.

HQCEC develops mid-scale downstream expertise.

Shell & Petrochina (CNPC) have potential to produce 19 mtpa of LNG through Curtis Island (16 mtpa) & FLLNG (3 mtpa). They need more gas reserves.

SF,

I'd agree with your assessment if general market sentiment wasn't so poor at present. It looks to me like MEL is getting special attention.

As a comparison, there are several coal plays that are considered hot takeover prospects such as COK and BND. Both companies moved up today but have not moved anything like MEL over the past two weeks.

Here's hoping you are right or we have an energy player other than the usually suspects taking a position.