is dunkirk the solution to tng, page-6

Thanks for the response to the post last night. I would like to respond to a few points raised.

1. The company has approached ANZ but no I dont know what was offered. To infer they are doing nothing in what can only be desribed as a once in a lifetime event is just not accurate. If in any doubt write or ring the Chairman, CEO or Company Secretary. They are very normal approachable people.

2. For those waiting for it to improve I just hope your patience does not desert you. It may be an excruiciating period and the danger that I see is that we will forfeit the entire drilling season. This impasse makes it almost impossible to raise any funds in a manner that would not cause massive share dilution. In short we are stuffed for the rest of the year.

3. For those waiting for a concerted effort it cant happen. Share markets dont work like that. The scenario I outlined was all about a situation where investors acted independently based upon the position we now find ourselves in.
4 For those waiting for the SP to drop to lower levels, well good luck, but it is down 70% on the SP at the same time last year. I dont pretend to know how low it can go but the SP of the past month may be a pretty good guide.

5. ANZ are selling regularly and posting announcements to the ASX every day as to the volume sold in the previous 24 hours. I think that the fact they are selling at these low prices is great, if they held out for say 25cps we would be going nowhere fast.

6. There was acomment about holding off so that ANZ could loose more money. I believe ANZ have regained all of the money owed to them under the Opes Prime collapse. They now must be seen to be disposing of the shares in a responsible manner. ANZ will not loose anything because the secured assets where well in excess of the debt owed by Opes Prime.

If any one has a better scenario to get us out of the pickle we are in please post it now. I will be the first to acknowledge a superior idea.

W2