seems too oversold, page-26

1) General economy is gloomy
2) Mark to market valuation erosion (ala REIT sector)
3) Div fall (from 28 to 12 cents p/a)
4) Broker down grade (to 55 cents)
5) Money being put into SE Water
6) Asset divestment when values are uncertain, but analyst still reckons $1.6 Billion in just two geat assets
7) people like you who keep suggesting that it hasn't fallen enough
8) possible distressed seller at a time when buyers for all stocks are hiding
9) convertible note repayment or conversion
10) selling breeds selling (stop losses, fear of the unknown .

It is cheap, and I reckon you know it otherwise you would have sold .