random thoughts of a jamaican rampermon, page-55

doctornoh,

I wouldn't consider that the sale of Mungi to be the same thing as a takeover. Far from it. Especially when MPO tried to sell Mungi for a very very long period of time. They also made it very clear for quite a while now, that they were going to sell out all of their Australian Assets and just concentrate in their North America's assets.

MPO spent not much money, if any at all, with Mungi for quite a while now, and they had no intentions of doing so either. Mungi has been on the market for a very long time without takers, and they sold it at far less that it was anticipated because they wanted nothing more to do with it.

They were originally expecting/hoping to get over $100 millions, but they ended up with far less than anticipated.

As for what you are saying about MEL in the rest of your post, I can only agree with you, and hope that the real value of MEL will eventually be shown. Hence why I am still holding.

What concerns me though is what has been circulating around the North West from some "alliance" in the area where they started putting and spreading in the papers "the rights of Farmers/Landholders" under the "Petroleum (Onshore) Act" and quoting certain sections which confirms as such.

I am under the strong belief that both Farmers/Landholders and CSG industry should get together, (while looking the greens outside the room), and start talking like civilians and mature people should do. For at present both of them are acting more like children than matured persons.
Until all of that has been sorted out and dead and buried, IMO we could still have many arguments awaiting us.

I know that the State Government has made the move to allow drilling to restart and allowed the renewal of Exploration Licences. But, are they going to enforce it knowing that they will be facing an election in the next twelve months or so, or are they just going to be sitting on the fence?? Why do they feel the urgent needs of coming to the NW of NSW for their next Cabinet Meeting??

I will continue to hold.

Good luck all.