Really is PH the right person for a long and hard fight against the NSW government - He wants to recover $25 million and keep his job and go in search elsewhere in my opinion.
I thought I invested in a company that had a licence - found what we wanted and really needs to move forward.
Personally whether I get 7c or zip its not going to change my life but getting a win in court may well - I am even prepared to follow a CR to put some funds in the bank to fight.
Minimum for me is $128 million costs spent plus a 99 year licence that in the event NSW wants to harvest the OIL & Gas they have to offer it back to the company for 10% of the settlement price.
Otherwise - exploration in Australia just got a whole lot more risky - Coal next. Then it will drift onwards towards existing producing mines of coal and gas ...
rather raise an additional 1c per existing share to fight on is my vote.
MEL Price at posting:
5.2¢ Sentiment: None Disclosure: Held
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