"2 - 5 rigs for h2 2010", page-12

"Im having a shot at your investment strategy that is a thematic repetition of resentment towards ADI for your mistake."

Dear Whoever,

You want to talk about mistakes?

It seems to me that the only mistakes that are being made are by the JV and those are right in front of people's eyes and they can't see them. I guess I have to go on repeating myself until it it finally sinks in:

1. A BOD's fiduciary reponsibility is to ALL shareholders not just the big end of town. That means you treat all shareholders in the same manner and don't dole out shares at a huge discount to your main shareholder and others in the 'in crowd'.

IMO the law allowing companies to do these types of cap raisings needs to be changed so that it is impossible to reward 'the mates club'. This applies to ALL companies not just ADI and EKA.

2. Next you don't do a cap raising right before the results of wells are known.

Basic math is easy to understand: (1) 32 cents is a lot higher than 28 cents (2) You take the difference and multiply it by the number of shares outstanding and then (3) you can see how much the cap raising has cost the company's shareholders. And (4) If you want you can do some ole fashioned 'figurin' on top of that and take a SWAG to determine how much the shares would have gone up had the cap raising been done AFTER the well's results were announced.

3. I'm not in the market to subsidize the big end of town or the BOD's mates and the 'in crowd'. I'm in the market to make money. I assume that most people are in the market for the same reason. The actions of both ADI's and EKA's BOD have cost their companies a huge amount of cash, the shareholders actual losses in value on their shares, lost opportunity cost, dilution for ADI's holders and in some cases EKA's, created uncertainty, AND last, but not least IMO hurt the companies reputations.

None of those are my 'mistakes'.

And regarding AUT - ever wonder why their share price is up so much more compared to EKA's and ADI's? Part of the answer is staring at everyone: NO CAP RAISINGS.

I was in ADI a long time ago and sold out before the big drop. I called the hype at that time what it was: hogwash and hype. I was right. I was out.

I got back in and have been trading ADI and EKA and making good money. Unfortunately it could have been a whole lot more had the ADI and EKA BOD's done IMO what they should have done.

And if you think I'm they only one harping about these kind of actions going on in the market you are mistaken. It is all over HC and in the newspapers. I seem to recall a columnist by the name of Terry something or other that seems to share the same opinion about these cap raisings.

In the USA they had the government bailout companies with people's money. In OZ the ordinary shareholder is being riped-off by insiders and the big end of town. Different players. Same result.