scheme voting, page-22

Gday guys,

I think it might also be fair if management fought some of the negative sentiment on here.

They never promised the reserve targets would be delivered.
They never promised we would get a "comparable" metric.

They have however worked very hard to make sure that bow had the capital and plans to realise as much value from their acreage as possible. On this they have done an extraordinary job!

I have been investing and trading on csg and o&g stocks for several years and I think that bow's management have executed very well.

The writing for me was on the wall a long time ago. You could see that things were going side ways and that results were not as expected...or hoped. I never believed bow would attract a high metric. The area they are in had low to moderate permeability which was always going to restrict the margins they were likely to get on the well head..and subsequently the end metric used too create some illuaion of comparitive value.

Shell/arrow may not be planning to use the resource for some years which has also hampered valuations. If we didn't go with them we would be spinning the roulette wheel that another major would pick up our gas during the first few years of gladstones operation (extremely unlikely) and if this didn't come off we could enjoy years of sitting around with no market, struggling to find capital, and more and more and more dillution.

Obviously I trully believe that management have done the right thing. To the detractors out there who feel aggrieved or disaffected, I would recommend that you spend some more time getting to understand the industry, as well as taking closer notes of the disclaimers on the presentations the company gives. If you see a company delay results, shift targets or redirects attention elsewhere; cast a critical eye and wonder if the risk or upside hasn't changed.

Thats about it for me on bow. I have spent many many many hours on this stock and it will be sad to see her go, but I am here to make a responsible buck and its time to move on for me. Thanks to salty, tui, misterz, and countless others who have been regulars on here. I guess I will see you around :)

Cheers,

SF