this company is a sham, page-43

HCRABOC,

The recent announcement is very revealing, depending on what side of the fence you sit depends on what it reveals!

On the positive side of the fence, we have some dreams of commercially viable gas flows (elusive or non-existent thus far) and a currently there is some valuation being done which could be suitable enough to apply to a Joint Venture at best if it were to be attractive enough.

Normally, a company would wait to see if the outside potential company is interested and if it has conditional interest, such conditions should also be revealed to give investors insight into how serious the "JV" tag really is.

On the negative side of the fence, i see it as little more than a Fire-Sale being dressed up as a potential JV.

Why would they not buy shares on market if after D.D. they decided that prospects were good for MAE?
WEhat would an offer be at this rate of production?
What does it translate into after Currency Conversions and the loss after transferring USA into AUS $$?

What would they buy that hasn't already been revealed via Production Data to Clear Creek?
- I recall that this is an identical situation to the last time MAE opened up their 'data room'...all production ceased and the games began about how much the company was worth for the purpose of a JV...

Dejavu for me...Fire-Sale at best where a valuation is done on the Well Pumps, Equipment and Gadgets/Cats etc, but very little value placed on Contingent Reserves and only moderate value placed on the current production rates, which are intermittent and poor in any case with historical issues galore.

To say a Joint Venture is in the wings is very eager indeed. To write the words into an announcement is easy and equivalent to mere 'bling' in this case - and it did raise the shareprice by 20% as it stood out so much.

L