i'm not happy mr bay, page-2

First things First, Many of us dont agree with the "golden hand-shakes" that frequently arise, however it will never stop and "all part of the game", HOWEVER i've noted a few fundementals below........

The issue of shares (444Mil) and the options (56Mil) needs to be taken into many considerations. Firtly LMP has 175.3Mil shares on issue at the current market cap of $20.15Mil (@$0.115 p/s). if you take into account the 52 week high of $0.14 the market cap is 24.5mil.

444mil shares @ $0.14 = $62Mil
56Mil options @ $0.14 = $7.84Mil

Total potential market cap after T/O is $94.34Mil

Second, LMPCSG WAS the primary company of LMP before it's spinoff and NZSX and ASX listing.

Third, Certified reserves are 173 3P so if we went on a pure "pay-off" on existing certified reserves a price of $0.35 p/GJ if you look at shares being issued ($0.545 p/GJ for shares and options issued) in retrospect this is probably a reasonable price considering LMPCSG still has tenaments which it is yet to certify, drill etc - Mind you all based on a 52 week high price of $0.14 p/share!!

Lastly, DYOR (Do Your Own Reasearch)

I'm not ramping LMP i just wish people would look at the few fundementals before getting all aggro about "greedy directors" just because they see the amount rather than the actual/potential "price tag" (if LMP goes to a $1.00 i sure as hell wo't be complaining. As for the reason for selling.... Personally $0.35 p/GJ of 3P certified reserves - We know NOTHING about LMPCSG, we dont know if any of the wells have high or low permability nor what potential reserves lay in place - is probably on the cheap side and a value between $0.45-$0.55 would be fair market valuation IF the certified reserves are close to existing pipeline(s)/supply/town/city/etc. There are numerous factors the directors are needing to consider, none of which they are required to realese to the market before a T/O has taken place and agreed on.

Everyone is entitled to jump ship when and if they feel like it. I on the other hand feel the price is fair and reasonable. I've waited 3months for this news which is well within reason and look forward to 2010 with LMP. I Just hope the process of the T/O is quick and not a looooong drawn out process, this will only hurt the share price as it seems LMP's current focus and direction is solely on the T/O as no further drilling/certification has taken place since! (Mid/Late September).