Kolubara - the only thing we can trust is that as things stand,...

Kolubara - the only thing we can trust is that as things stand, MEC has no other investments. PEP11 is well on the way to drilling and David Breeze is at the wheel. We all know how the share prices of MMR and BPH went back in 2010. We will see a repeat of that, I believe, and although I expressed some doubts recently I now believe the SPs could go even higher on the hype leading up to the drill.

I hold BPH, and it has been exciting to see the price rise and although it has no pulled back a little, significant rises are inevitable and to use an oft-bandied word, they really are "imminent". Whether the distribution will go ahead or not with a David Breeze-led board, I don't know. We will know soon. But as a MMR holder, I really want to be in on this through MEC's shares in Advent. MEC literally has nothing going for it other than PEP11. I think I understand the direction David Breeze will take this, and if I am right in thinking it will be a repeat of the PEP11 investment structures leading up to the New Seaclem drill, the sky is the limit for both MMR and BPH.

So yeah, it is on a trust me basis. We have seen the SP rise over $1 once before under David Breeze and PEP11. I really believe we could see that again - or greater. I hope MMR shareholders can put aside their misgivings of the past and see this for an opportunity to relive 2010, perhaps this time absent the spectacular fall that follows a no-gas-show. With a clever entry and exit strategy, we can easily cash in on the hype and reduce exposure to loss in the case of no gas. If there is gas at Baleen, even the smallest holding in MMR or BPH will be worth a fortune.

I will voting yes when the time comes.