Price pressures push Coalition into gas backflip, page-15

Thanks MrMonkey. Will be interesting. I was half expecting the rise to cap at 5.0 - being the equivalent of what Purcell was buying at pre capital return. Y

Also interesting to see that BYE is struggling of late. They need more funding, so if we could somehow get exposure to their SM70/71 production well it would be a win all around. We have them over a barrel at the moment.

On the EGO front - I can see a farm-in to EGO's EP368/Lockyer prospect as being a good fit for MEL. Only a medium risk well, but the downside is that it doesn't necessarily fit the investment brief. It would appear that we are more interested in de-risked/producing plays; which is prudent now that $10 million of capital has been returned. I like to put scenarios/numbers out there - and there are clearly a lot of disgruntled EGO holders who are at a point where any positive talk/scenario building offends, as it doesn't match their image of where the company is going (down) and the capability of management (incapable). Without MIN overseeing everything (plus the associated debt) I'd like the idea of MEL having a play for them.