eme rns 11 jan, page-12

i think a lot of holders are in the same position, they own a swag but really are not too keen to exit.. either because they cant or because they want to hold as they like the investment.

the buyers are ina great position, they can offer next to nothing and get it! allbeit on the smaller volumes the sp is dwindling.. but i think the leases around baker in the coming 18 months will effect some change sooner or later..

i am sure that should your idea of the entire 2008 being taken up on testing kennedy is a reality, then all the jvp's are in serious trouble. i am more of the idea the frac was unable to be effected and the solution is only days away, once they put down the casing they will be able to frac it and put it on production.

At the agm it appeared the agenda was more to get the kennedy well up and running, then in the near term go to the market and raise debt for the wells to be drilled on those leases down there..

imho they dont want to be doing this in 2009..

good luck to all of us no matter what way it goes..