finally some sanity, page-7

This letter was published in the South Burnett Times Friday 30th July 2010.

thommoz - is this yours?

READERS: BEWARE OF COUGAR ATTACK

As everyone who reads the paper or watches the news would know, the Melbourne - based company cougar Energy Limited (CXY) has been a heated topic of discussion.

Local residents have voiced their opinions on the reported "ground water contamination" and "sale of shares" by the company director Len Walker.

I am a local person who has been in this great community for a number of years and like many other people I talk to, I have invested a considerable amount of my money in Cougar shares on the stock market.

It was reported in last Friday's paper that CEO Len Walker sold off his shares within the company the day before the Cougar Pilot Plant was "shut down" by DERM (Department of Environment and resource Management).

I feel that the events of the share sale have been misrepresented to the community.

The company announced to the ASX (Australian Stock Exchange) on the June 28 and July 2 its intentions to raise capital revenue to the public as part of its ongoing operatings costs.

This was 12 days before the elleged report of contamination.

'The actual date for the sale of shares to the market was two days before the company was "shut down".

This was purely coincidental and very unfortunate I believe.

These were ordinary shares issued by the company to the public, they were not Len Walker's attempt to dump his shares on the market and run as was reported in the media.

The "mix-up" of water samples that started this whole process has had a large impact on many people, from employees, local businesses and mum and dad investors like myself.

Subsequent and repeated testing by DERM has confirmed the alleged mistake but this will not change what has happened or the community sentiment towards the project.

Last Friday 23rd July the company announced the termination of Cougar employees in Kingaroy, Brisbane and Melbourne.

From my understanding the total number of personnel that would have been required to run the full scale plant was 120 employees.

These jobs have been lost from the community as well as the money the project would have brought to our region.

In light of the fact that DERM has independently confirmed the water bore samples were initially incorrectly analysed, therefore clearing Cougar of the alleged contamination scare, I feel this is a great loss to our community.

....(NAME GIVEN BUT I HAVE ELECTED NOT TO POST IT....



Well done (Mr Local), it would have taken a lot of courage to write & submit your letter to the paper, after-all, like me, you have to live here. It will be very interesting to see what response you get.

Personally, I consider the South Burnett Times should publish Len Walker's response to the ASX dated 29th July, in next Friday's paper. In doing so, it would go some way toward countering the alarmist media reports we have seen recently.

Cougar has be crucified by all and sundry without the facts being known.