vote against adopting the renumeration report , page-11

If it is not mentioned next week in the AGM and I doubt it will, there will be no buy back. Don't forget to lodge your votes auto and your family members as well. Lets wake this board up a bit.

In spite of the takeover for IPM, I think he feels he needs hoard all the cash they have to fund future growth.

Other small oil companies are running quite low on cash and will be punished with capital raisings at these prices. If you look at that Hartleys oil companies coverage on coopers website, only cooper had a substantial cash backing and a ok revenue stream.

Anyway I would not hold my breath for a buyback unless he has indicated different to you otherwise. When he says now is not the right time does not necessarily mean after the takeover. He may just mean in the current economic environment that givng away cash is market madness even though they would be just buying their cash back.

I noticed AED has a rediculously high cash backing way above their share price. About a 1.90 and returned capital to shareholders from their 60% SALE OF THEIR TIMOR FIELD. Surely they are looking for acquisitions. I do give them credit for actually givng something back to the shareholders.