A letter and a call, page-16

Have done some homework and asking around over the last couple of days.

From what I have read, the board of Metgasco has not actually originated any of their own projects, only invested in Byron Energy and done one farm-in deal in Australia. If it were not for the Byron investment taking off, this Company would have done nothing, and spent quite a lot of money doing nothing!

By the way, Byron listed at 40 cents in April 2008, went to $1.10 and then traded as low as $0.07. THAT is a serious destruction of shareholder value if you bought at $1.10 (and someone had to have or it would not have traded there!) After 9 years, Byron shareholders who invested at IPO are no better off. (I am passing no judgement there, just saying, at least they haven't gone broke).

My research on Mr Purcell is limited to what I can find on the ASX platform but on the AJ Lucas annual report it states:

Mr Purcell founded Teknix Capital in Hong Kong over 10 years ago, a company specialising in the development and management of projects in emerging markets across the heavy engineering, petrochemical, resources and infrastructure sectors. Prior to this, Mr Purcell spent 12 years working in investment banking across the region for Macquarie Bank then Credit Suisse. Mr Purcell also has significant experience as a public company director, both in Australia and across Asia.

Looks like a credible CV if you ask me. I don't see those sort of credentials elsewhere on the Metgasco board so I am not convinced.

Going to do more research!