The CVN has a very good chance of being worthless, Macquarie...

The CVN has a very good chance of being worthless, Macquarie have 4yrs to weasel there way around it and it is naïve to think they wont. Cottee will tell us the CVN is great because the terms of the Scheme of Arrangement (SOA) requires him, forces him, to promote the deal so take what you hear with a pinch of salt.

Macquarie will never let the SOA get to a vote if they think it might be voted down. They have $150 million invested so far (debt+shares+50% of Meerenie) so that means they have a huge amount at risk if they don't get full control of the company. Plus time is of the essence as Cottee repeatedly stated in yesterdays meeting (although I suspect it was exaggerated to help pressure us shareholders) so any delays means Macquarie misses their (and our) window of opportunity.

If Macquarie gets to a point where they can see the 'No' vote might be successful they will negotiate a deal. I've seen these deals follow this path before.

Join the Central Petroleum Share Holders Association (CPSA) let them know you are against the deal help the CPSA show Mac that they have the votes to reject the offer and hence need to provide a better deal to shareholders.