Metgasco hails NSW gas discovery, page-91

Not so much "the Govt started moving the goal posts" as the issues facing the unconventional gas industry in general and MEL in particular became apparent! Unconventional gas has faced a twin assault, first from the peer-reviewed literature and second from the popularism of Gaslands - can you name an unconventional gas explorer that has done well in the last five years? I see a number of unconventional gas exploration areas with drilling being reduced/stopped and no 'pure' unconventional gas play that has made money for the punters - think of the progression from QGC to ESG to MEL (profit maker to break-even to loser).

The situation for MEL is compounded by the company adopting a strategy of refusing to even attempt to gain a Social Licence To Operate and opting for a Mining By Martial Law approach (and doing this in a region with a highly educated community with a history of organizing to stop ecoterrorist projects). The time came when management could no longer deny there was community opposition, (although they have never admitted the scale of the opposition - think of their deliberate understatement of numbers at Camp Liberty).

So there are three good reasons to ignore the "glory days" of MEL having an SP of $1

Go too far into the past and you take a dangerous road - soon you'll be looking for tobacco stocks or even asbestos!

The past is a dangerous land my friend - best not to dwell there too long