That kind of thought process has been been widespread on this...

That kind of thought process has been been widespread on this board for many years Brownie. I grow cautious whenever the word 'surely' comes in to play.

I think an out of court settlement would be a terrific outcome depending on how large it is. It would need to be of sufficient size to allow the company to buy in to another project of far greater significance and less risk than ELK.

Even if the government did back in gas in some form in this state, the company will still run in to ongoing trouble in the Northern Rivers, CSG or conventional. That community won't be turned around. So for me, MEL's future lies elsewhere, as it has done for many years. The failure to recognise this is to me managements greatest failure.

So I've pinned my hopes to a substantial payout and a shrewd move elsewhere, which I suppose is why I had my blinkers on re the ELK proposal.

I've tried my best to write this holding off, but it remains in the back of my mind always. If by some miracle it manages to grind back to $0.10, I am gone, with tears of relief.

My cost price is 0.50, 0.45, 0.32, 0.20... and so on.

Good luck, perhaps you will make money from this. But be warned, many before you find themselves in a deep hole on the belief that 'surely things will turn around'.