Like many of you I have been trying to ponder a possible...

Like many of you I have been trying to ponder a possible solution to the overhang of shares held by ANZ has over the TNG share price. I wont mince my words, unless something is done to remove the 14m shares that ANZ owns, I think that we are stuffed, IMHO, for this entire drilling season.

I think that would be a disaster in so much that it would probably put us shareholders back by another year. The response I receieved on an enquiry a few weeks ago from the company suggested they are struggling to resolve the situation.

Now for a little history. In 1940 the Allied forces found them selves stranded in the town of Dunkirk in France. Faced with either obliteration or the capture of literally hundreds of thousands of troops, an armarda of small privately owned English boats and ships was launched to sail across the English Channel.

In all, these amateur sailors and merchantmen managed to pluck 338,000 troops from under the noses of the German Army and probably saved Britain from a follow up invasion.

So what has that to do with TNG you may well ask?

Imagine for a minute if there was a steady flow of buying in our shares from ANZ over a protracted period of time. At these bargain prices there appears to be an opportunity for investors who believe in the future of TNG to wrest back control of our future from the effects of the Opes Prime collapse.

Sure such people would need to face risk but some would argue no more risk then sitting on your hands and doing nothing at all. I could argue that doing nothing is perhaps the riskiest option as share holders are then leaving their fate in the hands of the ANZ Bank. That is not something I am not at all comfortable even thinking about.

You can look at this Scenario from any number of perspectives.
Below are a few possible scenarios:
- 70 investors fork out $30,000 for 200,000 shares each
- 140 investors fork out $15,000 for 100,000 shares each.
- 280 investors fork out $7,500 for 50,000 shares each.
- 420 investors fork out $5,000 for 33,333 shares each.

It is interesting that ANZ continues to sell shares at 15c albeit in relatively small quantities. I think that they would welcome a scenario that I have laid out as they clearly have no desire to be a long term shareholder of TNG.

Even some limited success in the above scenarios might flush out a larger investor to purchase the remaining shares for fear they will be whittled away at a low 15c per share.

History proves that many people acting for the common good can achieve amazing results.

W2