Hi Large Portions, this is my take on the situation. Please...

Hi Large Portions, this is my take on the situation. Please correct me if I'm wrong.

I totally agree with you that the company is meant to do some things, that's what they are paid for. However looking at the big picture , I see all the work being done in a very methodical and economical way. While there were no spectacular announcements over the last year, (which is due to red tape in NY & AUS and is not the company's fault) the purchase and repair of the 100 miles of gas pipeline in NY shows the foresight of the company to add value on the cheap.

I'm in the believe that the NY fracking is about to happen, making the 5000 barrels p/d look rather low. The reason I believe this is:

State elections are out of the way.
Pro fracking polling is now at 50 % compared with against.
Land owners are preparing to sue NY State by end December.
Obama and his energy minister are pro fracking.
Cuomo has to make a decision soon, otherwise his presidential ambitions will be shoot.

It certainly is disappointing that the wells drilled last year are not better producers as yet, or that the gas price fell to historic lows, making it uneconomic to drill more gas wells.

NT has been dragging along with the EP184 lease approved for drilling and EP 187 approved by the traditional owners. Approval by the government is expected early next year, again, negotiations with traditional owners and of course red tape. All this red tape led to the delay of the seismic to next year, after the wet season.
Significant progress has also been achieved in negotiating access to the other Imperial tenements. A number of meetings have been completed and Traditional Owner approvals secured by Imperial to negotiate exploration agreements in EP(A) 180, 181, 182 and 183. Accordingly the requisite sacred site surveys have either been completed or are close to completion in all these areas. Your right, it will be a long time before the NT leases will be commercial, but with the work being done and the 3D model being build with the data from the existing drill cores and AJQ's drilling paints a picture of very exiting prospects.

So it looks to me the company was quiet busy and achieved a lot. Of course this is not reflected in the share price yet

The share price does not include any potential for the Marchellus and Utica Shale, nor for our acreage in the NT, which is in volume as large as the entire Marchellus Shale. In fact the company is valued at half the enterprise value. Every time the share price goes close to the 10c mark it gets hammered back hard.

So yes I believe it is close to daylight robbery.

The company can only handle so many projects with the same money pot.