OGG,I can see the difference in value of the companies compared...

OGG,

I can see the difference in value of the companies compared to six months ago in their assets - that is why I bought in after a long time being out.

What I can NOT see yet is that value reflected in the JV share prices except for some in AUT.

And as I said, the BOD's at ADI and EKA sure aren't helping the share price with their actions.

I'll get out of the shares when I determine that they have reached 'fair value' or the market is in such a state that I determine that won't be possible. (I know it wasn't you, but some other poster was objecting to my opinion that matters overseas would impact the share price and it has and it will again on Monday)

I also will send letters to various MOP to try and get the law changed allowing companies to do those 'mates rates' share offerings. Probably a useless and time wasting effort on my part, but at least I'll try.

I don't subscribe to the various statments that SPP's cost too much and that they take too much time. capital management is a part of the BOD's job.

A good BOD would have done the necessary PRIOR planning in order to have the funds when needed.

IMO it is time for the ordinary shareholders to be put on a level playing field and given the change in communications and technology over the past there is no reason or excuse for this.

This 'crony capitalism', 'mates rates', 'sofisticayted' or whatever people want to call it is a legalized rip off of small and ordinary shareholders.

And lastly, while some aspects of company operations need to be held close, I have stated in the past that many companies in Oz and especially so with ADI, think everything is 'TOP SECRET'.

It isn't and they are only fooling themselves and hurting the shareholders.

How long do you think Hillcorp can keep a 'secret' when they start calling around for rigs ?

I think that one company that excels at releasing information is SEA. This is a very weak point with the JV and one that was also common in the old ARQ and still in ADI. Wonder why???

Maybe I'll post some more of the reply I got from ADI to illustrate my points.