Topender really don't understand that in a company where the...

Topender really don't understand that in a company where the shareholders ousted management that you would offer up that shareholders dont control the agenda of the company. The mere act of selling out or buying in affects the share price and determines its value. Executives are charged to run the company for shareholders and if you vote them out they go.

We as shareholders are also charged with measuring the plan and deciding whether they have achieved what they told us they were going to do. I do think that forums are not able to change things but at least they can give the company a measure of how happy the shareholders are.

There is a new director with lots of skin in the game - dont assume that he doesnt read HC or isnt there because he sees an opportunity to move this company forward. If you read up what little there is out there about him it all points to someone who would (my opinion) have been happier to stay off the board but has sought and got election. I think that behind the scenes this company has a lot more active shareholders because of how we have arrived here than most.

My measurement is against their own yardstick that they said they were going to do. I wont vote to reappoint the ERM director or anyone that smacks of a person who should not be directing an explorer. Unfortunately the new director will probably have to be formally elected at the AGM and he is definitely one I would vote for.

I don't think that management are immune to our views I do think that they get to see them even if only third hand and I do think that the share price always reflects value. Maybe you can suggest that at 0.4c or 0.5c and a market cap of $40 million its great value for the gas we are producing. Who knows it may even be undervalued but ERM said that they were going to assist in unlocking the real value and we have seen the reverse of that.

I am not really interested in whinging - I am hopeful that management do read that whilst they are patting themselves on their collective backs for saving the company wealth has continued to be destroyed.

Personally I am disappointed that in Australia we dont seem to hold people accountable as much as some countries overseas. Activist shareholders call themselves that but seem to seldom get support to hold management accountable - I had thought we had with previous management but in hindsight we also need to ask a fundamental question : have the new guys delivered what they told us they were going to do and in the time frame we expected. If they knew it would take us until tranche 2 to move forward should they not have communicated that upfront.

Is this all futile because if it is than HC really is just waste as well. I got something out of it - I got clarity and reflected long and hard on what Harry said and agree partly but in some ways my emotional link to this company is and has been broken by writing what I did. I think it is undervalued but in reality have more faith that the new director will deliver than the entire board who in my opinion have not do date. maybe that naive but really I see the new director as having passion and being prepared to still fight the good fight. Me I am tired we saved EGO ... So what maybe the ex directors will be putting on their CV. We found Gas and condensate , we built a plant , we got Alcoa to lend us money and a gas takeoff agreement, we handed over at $100 million its now $40 million after raising over $10 million. Yes the game isn't over but I cannot see how we will get true value - even if someone buys into the farmin - I will always think we should have funded and drilled RGN ourselves and done it a lot sooner.