general thoughts..., page-16

It is my understanding that both PXA and HeN were originally set up as shelf companies by martin place securities to be flogged off when the time came to a company wanting to form a jv with ctp.

hence qgc bought up pxa for 18 million dollars with jv terms etc already in place. it was simply unfortunate that qgc were subsequently taken over by bg, who seems to have little or no interest in ctp at the present time.

it even appears that bg wishes to deliberately sabotage our operations....and why not, given that jh is so interested in uctl..which would be in competition with bg's east coast interests.

bob has suggested it is merely because ctp are such a low priority and bg is a large company, slow to act.

i too often wonder what might have been without bg's involvement thus far...we would be further down the drilling track by now one would think. however, bg's involvement was a big selling point for the last CR, ironically enough.