only 3,419,045 more shares to blocking stage

This is Mr Lincoln Augustus, first second cousin of Holymagiman

We had heard that this was coming and have very mixed feelings about it all.

LNG now have 30,320,577 shares out of a total of 337,396,221 shares in Metgasco. The reason for their hurry is mow apparant, for they have reached a very critical holding at a relatively cheap price.

LNG now only needs 3,419,045 more shares, as of yesterday, to reach the critical blocking stage if any other party were to launch a fullblown takeover bid.

It will be obvious that they have picked up quite a bit of that today.

The downside of this is that if there is any serious bidder, they would have to be prepared to pay serious money to overcome any resistance from CNPC, if that is at all possible, and it is most likely that all other bidders will stay away from Metgasco and concentrate on bullying the smaller boys like ESG, BOW and BUL.

The upside of this is that we now regard Metgasco, to all intents and purposes, as a defacto subsidiary of CNPC, with certain benefits.

for, unlike LNG, which is just a holding company, Metgasco is a gas producing sleeping giant.

The upside to that is:

1. That it now appears quite clear that Metgasco's JV partner will be CNPC, and that should ensure that Metgasco will get its gas sales agreement MOUs in place without too much fuss.

2. And that the conventional gas exploration and confirmation of the extent of the fields is done in a more accelerated and timely manner than what has been occuring up to now, with proper drill rigs to be able to get to the targeted depths and more.

3. And that the Lions Way pipeline becomes more of a reality than remaining just a pipe dream, and that some urgency is injected into it.

4. And that the NSW Government and the Federal Government will become more proactive when they deal with Metgasco and realise that this is a win-win situation all round, with money to be made for all. and there is nothing like the smell of money to set politicians tails wagging, all ready to roll over for a tummy rub.

5. And that any farmer who complains too much will just be bought out (apologies to our dear Buddy and here's hoping you get paid lots and lots of yuans for your idle paddocks that may be in the way of progress, and that you spend some of that hard earned dosh on a good hubble bubble....cheers)

6. And that the Greens will be put out to pasture...once and for all, hopefully to the backfields of Timbactoo or some such place where they can grow their carrots and rail against the wind.

7. And that Metgasco's share price rises steadily and maybe, sooner rather than later, starts to pay a dividend on our 101.25 share holding

So all is looking good for now on this lovely day.

Blessing of the Lord
MLA