shareholders action group, page-25

G'day Seuss,

I empathise with your feelings on what exercise pice would be better for shareholders BUT, companies can't just pluck a value out of thin air for options. The value and prices and expiry dates are all based on valuation of company and shares on issue etc etc... At the end of the day they must reflect a reasonable and fair value of what they are attached to. Research how options are valued and how they are written etc etc and you will see what is required.

Also the wording is exercise price, not excise(this is a tax)LOL

As for the board and MCL I do think they should be able to buy them BUT then be held in escrow for 2 years. This would provide at least some incentive for the buggers to perform in shareholders interest.

Personally, I still have a core holding of mhl, plus a trading holding and I am reasonably bullish on mhl going forward. It has a long way to go and some boxes need to be ticked off along the way, but there is good chance of them pulling this one off with sentry and good pricing for oil going forward.

Don't get too hacked off with the pricing of options etc etc, they only have a certain number of ways to raise capital. They chose the method they have demonstrated over this week, and it will play out reasonably well I think.

In the short term there is very little effect for the SP, and it gives time for the plans to come to fruition.


cheers

steve