Ann: Half-Year Financial Statements , page-12

PT

They don't want your money, the board want Pacific Energy to end up with as many shares as possible, can you imagine what would happen to the SP if they tried to buy between 30% and 50% of the business on market. This is a very cheap way to become majority shareholder.

There's a lot more happening here than meets the eye, it is turmoil at the top of this business, I would not be at all surprised to see in 12 months we are a completely different industry, all geothermal assets sold off and we are in wind or solar.

With new board members coming in KP going out there is clearly a major play going on, us poor shareholders are completely in the dark and being played for fools.

Someone's trying to make a buck, I can't see why all this is happening otherwise and I'm in for the ride.