Navy Gulf You and I have been saved by the bell.Spoke to Ferrier...

Navy Gulf You and I have been saved by the bell.

Spoke to Ferrier Hodgson late this afternoon.

A DOCA has been approved with NRG the best possible outcome for all involved.

1.The Company stay afloat and relists on the ASX in 3 to 6 months time if a majority of shareholders agree.

2.The shareholders - no share consolidation or dilution(see page 30 of 2nd Administrators report)

3. The Employees receive 100 % of their entitlement.

How good is this, now all we need is the Copenhagen Meeting in Dec to go favourably with a reasonable ETS to allow for 1 to 3% of all Diesel fuels from a Bio-Diesel source on a Global Scale and the share price can only go up from here.