Isaks, $5 million is a starting point for compensation, outside...

Isaks,

$5 million is a starting point for compensation, outside of any other decision being made. It is not a figure that represents what the company would give up its business for, nor the worth of the company (please, don't go off on your "the company has no assets so is worth nothing" speech). I have read that already. A few times now... What it does have, however, is a timeline of how its share price suffered due to illegal practices against it. It also has figures of how much it has invested in establishing its operations. It also has documentation of how it has adhered to the necessary requirements of its license. The current share price only represents what people are willing to invest for, given the current uncertainty surrounding the political aspects of gas mining in the State. The government, however, cannot look at the company from an investor point of view (that is, basing it on the current share price). It has to go into the intricate details of just how badly it has messed up, which includes factoring in losses and share prices PRIOR to doing the damage.

Compensation only applies to the damage Metgasco has suffered through the suspension of its activities. It is only a fraction of what an offer to buy out Metgasco would be (that is, what it would take for us to simply "walk away"). For that to happen, I daresay you would need to add 2 extra digits in your number somewhere. After all, the cost of walking away must represent a figure comparative to what was invested, yes?

It is interesting to note though, how you continue to claim that Metgasco has nothing going for it. Repeatedly, you have made reference to the distinction between "resources" and "reserves", but that is a technicality which can be altered in due time. After all, people across the state now know that there is an awful lot of gas in the Northern Rivers. Call it what you will, resource, reserve or reward, the stuff is there. The technicality is political, and should be rectified in time.

They also have a successful court challenge against the government and the OCSG under their belt...

And an upcoming court challenge against the government, for compensation...

And continued negotiations with the government for contract extensions and high-dollar potential buy-backs...

And exposure across large media that continues to highlight how the government has screwed it over...

And the possibility of returning to court (after we are successful this time around) should the government decide to do anything untoward.

And... Most importantly... The law....

I must admit, that to me is a fair arsenal to work with. Significantly better off than the dead-in-the-water duck that you make it out to be. Still, if that is what you think, good luck to you. Be thankful that YOU ARE NOT A SHAREHOLDER. But please, do not try to give us investment advice, saying that we are best off getting out now. This train has only just pulled into the station.

ALL ABOARD!

See you at the next stop.

AP