re: Ann: Requisition for Shareholders Meeting... RAW - I have...

re: Ann: Requisition for Shareholders Meeting... RAW - I have read the whole announcement and can understand the reasons why what was done, was done.

However I am surprised (and not pleasantly) how much power a small faction within a companies shareholders can have in terms of pushing the directors out. I am obviously not privy to the conversations that went on in allowing Ted and the other director to resign. But I can imagine they were not happy nor quick conversations.

What disappoints me is that the rest of us shareholders didn't get a say in it. What disappoints me further is the level of experience that the two new directors have had with the oil/gas industry. Yes they have had experience with ASX listed companies, yes they 'know' people i.e. other sophies (read mates with money to fleece the rest of us!!!!). But do they have a good ear for other opportunities that may come up like the one in Australia. Regardless of whether the projects are good or not, they do know how to find opportunities. Can the same be said of the new directors?

In my opinion there is too much power now held by too few a % of shareholders. I also ask if the rest of us shareholders were consulted about this. Obviously we are now, but the damage has already been done, and the directors are already on their way out!