Dear @Oily I think what Asaliah wanted to say is this: The PPSC...

Dear @Oily I think what Asaliah wanted to say is this:

The PPSC in Indonesia has gas in place of 119 BCF in Pase A and B with just one of the prospects have 540 BCF in place and its underlying license has recently been renewed and extended for 20 years as you know. It is capable of production right now. The only other asset of TEG is Reid’s Dome (Petroleum Lease 231) in Queensland. Reid’s Dome has gas in place of only 1 BCF. All data is Public data on ASX TEG website with the Pase data coming from 18 Feb 15 Corporate presentation and Reids Dome coming from page 10 of 2014 Annual report. TEG said they wanted to invest our money in the Reid's Dome field after selling the confirmed PPSC of Aceh. This is another fact that doesn't sound serious in their company update and proposal; unless they have new facts that we do not know and that were not presented which I doubt sincerly. When we put all this together... we see that management has not done this in the best interest of shareholders, it is a fact now... it is not crystal clear and who knows what this deal presented was hiding under the carpet...

I am a top 20 shareholders and I have been in touched with other top 20 shareholders that have answered my recent post with my email on HotCopper so we can talk, know each other and discuss what can be done. You can write to me if you wish and join us to find solutions to the situations. All shareholders are welcome, no need to be only a top 20... the more we are the better it is... the email is: [email protected] all will be confidential if you contact us, we can even discuss through our Lawyers, if you want to keep things confidential. No problem with that.

We are trying to see what we can do right now to help TEG to get out of this confusion. The board has not been right with us, we know there is a profound problem with the Towners family. The ASX has confirmed that what they have proposed to us were not legal for ASX regulations and this is not good for them... and for their reputations for the future... they need now to act as gentlemen and as responsable directors for all shareholders... and not only for them... we, the shareholders, have put the money for so long to maintain the company and their salaries, we have believed in them.... we have seen and still see TEG as a great potential and now WE, the shareholders, have received tje confirmation of the PSC... it is worth a fortune oily, you know that... I have never been involved in writing on the HotCopper, but now I am not happy and I decided to talk... I feel that we have been betrayed by the board because of personal greeds... I know the business is tough but this is not respecting shareholders to impose a break-up fee clause to shut our mouth and make sure we vote as Tomwners wish us to vote... Your comments oily have always been solid and interesting and I know you see and understand well what can be the situation under the carpet with this deal... Now, with ASX with us, any other offers will need to be presented for a vote and we need to see if they have other offers, so we can take the best one in the best interest of the shareholders and not only for the board of director. We need a joint venture (that is the best choice I think) or other possibilities... When we see in a business deal a clause like the break-up fee of US$5 millions in a contract for a company that doesn't have the amount in their bank account to pay back in case their shareholders say no, we know something is not crystal clear... it is obvious to all of us now... the board though that we will be afraid of losing our money so we do not say anything and the under carpet angles are not seen... ASX has written to me today and they are not happy also. They understand very well what is going on with this board.

So if you are a shareholder of TEG and wish to contact me to share offline and join us to find a solution, or if you are a company that is ready to do a joint venture with TEG or to give a better offer... please contact us at [email protected] We have our eminent Australian Lawyers in place now that are studying and following the situation very closely and we wish to do something to make sure we get the best of this deal for shareholders. We expect and wish that TEG board will present to us a better deal than that and now we know that ASX requested a vote to oblige the TEG board to consult us and this has to be done fast so we do not loose the PSC from the Aceh Government and SKK Migas regulation. Let's make sure we are respected and heard this time so we can find a solution... this is business friends, but there are basic rules to follow to feel good when we go to sleep at night.