hey @1982, thx for the plug. they have no respect for me...in...

hey @1982, thx for the plug.
they have no respect for me...in the many discussions i had with nwe, I sensed they were being helpful in some respects but it was also obvious to me what they were saying and what was really going on behind the scenes were two different things. When i prepared the DCFs - nwe did provide some input parameters, like typical throughput (CE spouted this as well), plant cost (can deduce from Waitsia), discount rate and typical per well operating costs (these numbers are not secret) and i came up with a $2b valuation, unrisked. Thats for NWE's 20% of Lockyer gas, no oil, no lead E. Why did they not publish something like that themselves? even as a prospective excercise?

The other big trigger for me was when they said they were not chasing financing or gas sales agreements. Then we had the iron ore carrier lng fuel gas bizzo - i knew then that this was being played to mins tune. min is in the iron ore carrier business and with hancokc they own a port loading facility, so who do you think will look at lng for iron ore carriers? When i go back now and trace the timeline of events, words and actions - it is clear as day, they were planning something different to what we were expecting all along, although i did have my suspicions at the time and did call some of them out here. I even posed the question - will they be the types that would bail for a $5M payout or would they sit it out for a $30M payout. The icing on the shitcake was when they emailed me, asking me to give them a call so they could explain the bored's reasoning for accepting the "revised" offer...after the fact...so that tells you where you sit in the "pecking" order...and it confirmed my earlier suspicions.

The only real power shareholders have is to buy, keep or sell their shares. Unfortunately many here bailed and diminished that power. But 30% is stil good. If we can keep MIN to below 75% and especially below 80%, that would be gold. We can then have half a chance of keeping them honest.

As for the issues I highlighted above? I can send them a letter, it will go in the toilet paper dispenser. Look at todays announcement. A rig that has been "idle" for 4 moths now needs repairs?