"(I must admit I was a bit skeptical of coal seam gas in the...

"(I must admit I was a bit skeptical of coal seam gas in the beginning but it might be that Reg and the boys are onto something. Pure Energy is about 1/8th the size of Beach and Dutch Royal Shell are showing interest in it... Could the dutchies be interested in BPT ... you never know.)


Captain,

I know you were a bit skeptical about the CSG, while on the contrary, I always stated that I am a big fan of Gas and I always maintained that Reg should be doing more for it and getting it going and brought into production as a matter of urgency.

I can also recollect someone saying that we are oilers and not gas producers and that we should leave the gas where it is. Now, according to what is going on around us, that is nothing further from the truth.

Now, IMHO, if Reg get something going with it, and a takeover will eventuate, we will all get a very good premium on our share price, while if we don't and sell it (the gas) as it is, I believe that we may still get an offer, but the premium will not be as good.

Consider what QGC received from only a percentage of their holdings and consider what AOE has received for the percentage of what they sold to Shell, simply because they were gas producers. Also look at what offer Origin knocked back from BG.

On the other hand, now Shell bought in PES (Pure Energy) at $1.40 per share which was less than what the shares were trading a little while ago, simply because they still are exploring for gas although they do own huge and prospective tenements.

Immediately after the Shell move, AOE (Arrow Energy) bought about another 4 mill shares to increase it's stake in PES. As to why AOE has not moved before this to do a Full Takeover of PES, especially when they already owned a large stake of it, is beyond me, but they are moving into it now.

These are my thoughts and please DYOR.

Buddy