Disappointed, page-2

Cheer up Mac. What do you think TPG might want in return for providing a waiver that is required by the ASX for MAE to relist? Answer - Plenty! This is a non event as KKK are happy to be option 2. Yes they will be rewarded but SH may be a lot better off with option 2.

So why would KKK want to put even more money into MAE? Answer - they know something that we know too. An increase in 2P reserves to 1P simply because gas prices make it more economical to recover. Another increase because there are now wells producing. Next announcement will provide flows up from last announcement. Gas prices are likely to stay up as US reserves are replenished and reflect global issues. 3-4mcft is cash flow neutral All the infrastructure is there, although a second compressor would be good. All this for 0.006c on market - I don't think so.

Seems like MAE could be a saleable company to someone wanting a quick acquisition with little risk and a lot of upside more so if they had the people who did know what they were doing.

I think the greed factor, so characteristic of O&G investors, may also be a factor. It did take the price of MAE up over $1.60 at a time when they had a lot less than they have now. The story now is a lot better. Greed does not dwell on the past as we have seen from the COHO story.

No - I doubt $1.60 will ever happen, but anyone can do the maths on reserves, cash flow and a bit of subjective greed. Their conclusion will determine what they will pay for shares on resisting.