european energy security, page-3

Hi Michaeld - I understand what you are saying. However the issue with OZ operations is that they are negative cash flow & we do not have any positive cash flow. AJL needs to at least tidy them up so they are not negative cash flow so we can tread water for longer awaiting the awaking of the UK shale industry and/or the next debt repayment call.

From previous discussions here, nobody, including the 50% 'boss' holder, any of the other large holders or any of us, are here for the OZ operations, the potential of UK & European shale is the draw card. If you think it is doomed then best to cut losses I would say because it is the only thing that will launch/save the SP. If shale falls over we are all screwed.

I can unfortunately see that there maybe an advantage to 'some' large holders to drive the SP down by running AJL OZ into the ground = pick up remaining shares cheaply before UK shale takes off (assuming it will). However they have had a huge BOD purge & made noises along the lines of a big clean up of OZ operations, so I'm interested to see if any progress has been made. We should hear some, if there is any, in the annual report - is that due end of August does anyone know ?

I haven't seen any substantial share holder reduction in holdings notices, in fact 2x small buys for directors since March 2014. I am hanging in here & will have a stake in the UK shale battle which is looming. Dart takeover would indicate there is corporate interest & light at the end of the tunnel.

16 weeks to process the first step of the permits which were lodged on 12th & 18th June respectively, so 1 month down & 3 to go, so mid October we should get news & hopefully the next step forward.

I have been buying a few in the low 70's so if nothing else my average is coming down. Yes Commander Communications - been there done that, managed to get out with a bit of my investment b4 it folded, not to mention dear old ION (salvaged some there via class action), hopefully this is not another falling knife but I do seem to have a knack of picking losers !!

It certainly has been a long & painful journey so far but we are SLOWLY getting to the pointy end.