Pointless whinging...., page-26

I am thoroughly confused with all these discussions on ERM repayments. I must be missing the forest for the trees.

In my simple mind, let's forget about the auditor's report and the directors decisions good or bad or indifferent, (obvious bad one is the consolidation) and look at it in simple terms.

RGN is due to be tested in March, come to think of it why not right now as with the POO the way it is and the rig count down, what exactly are we waiting for? I think we can count on a good result, indications so far so good. This well is paid for by the CR. PAID FOR BY THE CR!

Now we have from ALcoa and BP rougly $20 mil/year, which started July 2015. What is our expenses, and don't tell me RGN, because that is covered by the CR.

Our maintenance (has gone down so the board says) and general running of the company will come to what? Oh don't look at the report just a guess will do and we cannot pay $15 mil to ERM in Sept? We might come up a just bit short, nothing that a bank won't fix.

If we can't do that, then something is rotten in the state of WA. Will the board please speak up? Else I must have missed something. Will the PR person employed (I know you read HC) please ask the board to clarify exactly we can or can't, as all this discussions and publicity is sending the SP down the sewer, helped along by the ridiculous consolidation, we now have a lot of space below to fill and it's starting to go that way since day 1. If they can't communicate or rectify company situations, then maybe they are in the wrong jobs.

Based on what the steady income is (and seeing that we do have a steady income, it's ok to judge the SP by PE ratio) what is our PE ratio compared to the industry? Oh yes, BoD, unleash some value for us please, and don't make us feel that the last 249D was in vain!

KKW

PS

AJIMHO and I stand to be corrected if my logic is flawed; also, if there is a bigger picture that a simple person like myself cannot understand, I am sorry, as my understanding is that an improved SP would make my Super Fund look healthier.