CSL - a good train of thought.So its really a...

CSL - a good train of thought.
So its really a "back-door-listing" for Real Energy.

The Board of Real appear to have plenty of O&G experience.
Got no idea of their assets in C/B. will have a read.

I think we Need to be really careful of the "nearology" factor - remember uranium boom etc, probably CSG boom, shale boom etc etc.

Another possibility is Orca Energy OGY
It has 20% interest in just drilled shale wells in C/B. Other 80% J/V interest is held by Senex.
Senex has 19.9% equity in OGY.
Wells are flowing gas already, and have liquids as well.

But OGY are going to need fresh capital to fund further development.
I could see a situation where MEL takes a big share placement, or merges with OGY, such that OGY gets access to MEL cash, and MEL s/h get a goodly share of the equity in the merged company. Already drilled and fracced with a successful outcome, fantastic operator in Senex, liquids with gas, and permits right in middle of Senex permits. A merged entity would then be cashed up, have a much bigger s/h base, and better scale.

Probably Senex would not agree to equity issue, as they almost certainly will have T/O ambitions in mund.

So a real long shot there.

In any scenario, one would have to determine what the attitude of ERM and LNG is wrt their big holdings in MEL.

But pointing MEL south to C/B is a much better concept than heading North imho.

MEL s/h will be aware not to see MEL use its cash like MPO did - where MPO sold everything that wasn't nailed down, took all the cash to Nth America, spent hundreds millions of dollars of drilling shale wells, got poor results, and now is "re-evaluating" its investment in Nth America.

So hope that MEL Board takes a careful and considered view as to what and where it invests.

cheers