Its a small change deal, $2.7m deal for a farm in and a $1m...

Its a small change deal, $2.7m deal for a farm in and a $1m share issue.

I think this is a positive for MEL- shows a firm commitment by ERM to the CM basin even in the light of the BoF legislative paralysis afflicting NSW. Shows regulatory risk may be subsiding a little for deal making to come back. And that east coast pricing dynamics are firmly in the minds of entrants into the market.

Potentially gives them leverage and economies of scale with the neighbouring MEL tenements as well. We have certified reserves- what does ROG have?

Lets not forget ERM must be fighting with some large players for MEL's reserves, potentially they arent big enougth to take on MEL by themselves with LNG's blocking stake and ROG is a contingency fall back play.

Looking forward to some drilling and some deal making. Lets go PH.