gas projects in the news, page-7

Mark,

Ref: MMR BUY BPH Immoral big borrowers and wasters of other peoples money otherwise known as governments!

Youre right on one thing this is not a general discussion forum. I invest in these small companies yes I hope to make money but I also like to support Australian enterprise.

I am not a big fan of general regulation particularly when the regulating is been done by people in many cases that dont have a clue. No I dont agree with twelve year olds working in factories.

Fixed minimum wages mean young people dont get employed I am an employer and I know that if I dont train, pay well and look after my workers they will not stay with me. The market regulates that.

I am happy to train young people but I need a base to start from. They need to read, write and have a basic understanding of how to use a tape measure or such like.

I have no idea how so many can get through our well regulated education system and fail on all three of the points I mention above!

I said before I am happy to stand on my own feet and compete in any market I dislike the nanny state foisted on our population.

To take just one issue: Compulsory superannuation. This is the government telling me and you that we are too stupid to look after my own financial affairs.

No one is forced to deposit any money in any particular bank; however, if they do the government (read us tax payers) will guarantee those deposits.

I am by law forced to pay currently 9% of a 25 year old fitters wage into one of our well regulated superannuation funds.

Both he and I know that he could really do with that money now to try and get on the housing ladder.

But no, by law it must go into an ATO regulated super fund, over the last four years they have lost 60% of his super investment and charged him 4% for the pleasure of doing it!

There is no government guarantee on these funds. I try and help the 25 year olds but I really struggle to look some of the sixty year old skilled trades people in the eye.

The last point I am going to waste my poor typing skills at is your view of government borrowing.

I see no wrong in loans that are used correctly and for good purpose.

I have yet to see any national government borrow money under those circumstances, try that new TV on some of the news channels.

Have a good look at how well some of the big borrowing governments around the world are doing: California, Bush & Obamas USA, the UK, Greece, Iceland, Ireland, Portugal and Spain spring imminently to my mind.

If you feel that your pals Kevin and Wayne have any intention of making any interest and capital re-payments on any two hundred billion dollars loans during their watch then you are easily bought off.

My own moral standards would not allow me to sell out a whole generation of future Australians and short change them on their rightful ownership of the mineral and other wealth of this country.

If you can sell your soul for a Chinese manufactured flat screen TV bonus live with yourself and sleep well at night I guess I have badly misjudged my fellow Australians.

When the IMF arrive in Australia with their austerity programs for the re-construction and selling off of Australias assets to the highest international bidder I hope the enraged population can find you and your mates Kevin and Wayne.

Please dont worry about a reply we can all watch and see how things play out over the next few years.

After all my time living in Australia I have never felt so saddened over how we just follow every possible mistake made in any other country.

I dearly hope that I am wrong on my current thinking and that one day Mark you can have a great belly laugh at my expense. I tell you what if thats the case I will buy you an even bigger flat screen TV providing its manufactured in Australia.

Apologies for drifting off track if indeed I have.

I am sure that one day soon we will hear some good news, hopefully that PEP 11 is finally to be drilled and that new life and industry can once again sprout on the shores of NSW.

These things always seem to take a lot longer than we would all hope and great patience is required with smallish companies embarking on such large ventures.

The CEOs and management teams such as BUY BPH MMR and others do not have the resources at their finger tips like the big companies.

I have followed many such companies over the years and I have no doubt that people like David Breeze and Phil Kelso are very far from your run of the mill nine to five people. I have met Phil at an AGM in Sydney but only have word of David.

My feelings are that whist they may not move as fast as some would hope they are meticulous individuals that like to have all their ducks in a row before they move.

Phil Kelso impressed me with his energy he continues to steadily improve Bounty's position with exploration and development of their other assets but with a keen eye on PEP 11.

Tying up the final details of rig insurance, drilling contracts and the myriad of small items do require meticulous attention.

One day the diesel engine will bark into life and the drill rods will be strung together and drilling will commence!

Believe it or not then all we have to do is hit the sweet spot!

He who dares wins.

Good luck to all on board. Cheers: Andy