How did we get to $0.005?

well for one; the last guys in charge wern't very good at running a publicly listed company. And for that they were bannished. But at that time the SP was still at about 1.7 cents

Of course we did not know at that stage that our plant was some what less than; well just LESS is enough

We weren't aware that the last seismic ran over budget by about $2mill due to shoddy scheduling.

We had been told that our reserves were parlous and may not cover our Alcoa commitments. By quite along way was the inferred byline.

Of course we needed lots of cash because ERM were benefactors who well; might not see the benefit in leaving us with their cash for much longer.

Tranche 2 was as far away as October with cash receipts not being beneficial to us until Nov or even December.

And of course Brent pricing has collapsed.

So with all this uncertainty about the companies ability to survive ERM were gracious enough to emerge once again as benefactors at the "white knight" discount of $0.00497 or there abouts.

And from there we have not moved. Whether we were "swept Clean" or "verballed" or into our current share price is irrelevant. The Truth is; at least in my mind, that current management have put us here

To their credit they have got the RG plant running correctly, and they have put the business in a better financial position. They achieved this at the lowest ebb in the share price; and for that they do not deserve credit.

Reserves are now solid, Brent is firming, Tranche 2 is now as close as August and the trache 2 Gas price appears to be solid.

In my mind the fire sale of last year to ERM was not wrranted. It has more to do with our current SP malaise than the number of shares on issue.

ERM may well have been a white knight or they were simply afforded the opportunity to reset ther buy in price; as indeed we all were subsequently. This is the mud that we are now bogged in, not the 10 billion shares on issue.

I am upset that the discussion here is all bout consolidations and crap. It should be about how management are going to tell the good side of the story as adeptly as they reeled of the bad..

Viney