Under $3,40 now what, page-17

yes and ENN probably have alonger term plan

1) they could average down if wanted to buy out bringing averge cost down to a Ok level - one reason why you let price fall

2) for enn- a large loss is not great but in scheme of things will not sent them broke

3) wait for the force majuer and make a killing by doing a reset

4) resupply gas from outside Aus to the east coast with another of enns entities - think about that one?

5) drive sto to the point where they have to sell PNG ? competitors would love that

6) on and on and om

What really matters at end of day is that they destryoed the company many years back when they took on GLNG and did not protect capital. Its a fundamental flaw in the business plan and now s/holders are paying for it. If you are in a cyclical business and you believe you are so good that you ignore the mrkt around you then you are going to get hurt - thats why I have been saying for 2 years that coates should be retired.

They thought oil would still be $100 and they would have so much gas pumping out that the stock would go to $50 - its called greed.

Well done Mr Seaton & Coates - enjoy your retirement you...(fill in blank)