quarterly expectations

It seems that consensus is that we will see that an IRR followed by a quarterly by thurs.

My guess is if the two are released close together it will be the IRR first to try and hide an oncoming shocking quarterly.

The quarterly will be shocking for the following reasons:

Flows will be down or non-existent. The last release on the 23rd of Feb said that production was no longer at 5mmcf because of weather and that they would let us know when they had reached production milestones again. That was two months ago. And to those who think that there could be increased flow but they are just not letting us know - read the ASX listing rules on continuous disclosure. A company has to release to the market any information that, if found out, would have a material effect on the price of the security. Now would one person tell me that if we found out that MAE's wells were producing steady mmcf's a day, the price would not budge.

This all leads to the second reason - there will be next to no money left. Long time followers will remember how much cash this baby burns. The directors made representations to kooks at others that they would not run out of money - but this was on the assumption of steady cash flows. Of which there are none.

The half yearly says that they have 1.966 million left as at 31st December. Want to guess how much of that is left considering that the 23rd announcement said that they have had to make "necessary resultant infrastructure upgrades"?

My guess - not a lot. Not a lot at all.

I also guess that I might be able to buy this cheaper come next week.

P.S. the price is not a representation that everything is going well because "those that are in the know" are not selling. Insider trading is actually a crime in this country and is not as prevalent as what some here seem to suggest. Go have a look at all the big price falls for MAE - it suggests that nobody was in the "know" not that everybody was.

P.S.S People who think things arent rosy arent evil. I even think this might be a good buy in the future once we know what is going on. But holding at the moment is like playing russian roulette - which can be fun, i guess, so if you enjoy it - power to you