I think we might be getting alittle ahead of ourselves. As...

I think we might be getting alittle ahead of ourselves. As previously stated the massive number of shares on issue was predominately a result of PCE's mining and VRB days.

In recent times the only significant share issue was to bring Dr Len and UCG on board (and thank goodness for that), being approx. 95k shares and 75k options (3 cents).

I may stand corrected but from my brief look the only other majors in the past 18 months have been:

- COK 15m shares for a 100% ownership of Kingaroy JV
- 10m 25cent options to Direct Invest for MOU
- 10.8m 10cent Management options
- 4 * 1.6m and 2 * 1.7m Management 10 - 25cent options

This does not suggest a management out of control in option / share issue. Yes they are challenged by the legacy of PCE's register, however that was well known when it was used as a backdoor onto the ASX.

To be honest it is what it is, the company simply needs to continue progressing UCG and convince shareholders to hold / buy rather than sell. I for one definitely do not want a conversion, been there and it ended it tears.