annual meeting

Well greetings fellow holders of this little stock,

Today I went to my first shareholders meeting, as I wanted to see first hand what's going on with this mob. It was brief, with only a few people attending, which worked well with getting a one-on-one.

* Cooper Basin
Fury is an asset, theirs oil there, it's just a matter of doing a pump test which requires trucks to get in so they can pump the oil into. Unfortunately they had another 62mm overnight, and it's verrryyy frustrating for them.
The good thing about it, is while they waited, another little deal started to surface, that's got them as excited as school boys in the school girls changeroom....

* TRINIDAD
Basically through luck, they have got the opportunity to finally become a producer overnight. The 2 owners of SOCA are very old and frail (one has just come out of a coma),
their families wanted to sell and not knowing how to go about it, asked a Texan analyst, who soon after had a meeting with the guy from Range Resources. Now as stated on this forum, Range would have loved to have got more than 10%, unfortunately they were totally stretched with what they already had, so they brought their mates from Monitor in on the action.
And now they have the gear and infrastructure to start producing immediately, which has been a small two bit operation upto now. Being blessed with oil, the owners have only done enough to happily live of, without going deep, or south of the fault line..... and that's where the excitement is for Jon, Mark and crew.
The other little gem they are keen on is Walter, the old German operations manager who runs the show. The drill rigs are amazingly clean because of this guy.He is a very savy operator and has always wanted to do these extra drill holes knowing the potential, but was never allowed, because of the crusty owners that were never interested.
So in summary.... $90 million seems like a good buy, with the good chance of being a bit less.

* Kygyzzzwhatever, didn't get mentioned in the meeting, but Mark is still keen to find a partner that would spend the money on this, and the uranium jv looks like getting sold off when the price is right. No rush though.

* Tony Sage
Mark speaks to him just about everyday.

So there you have it! There will be a CR, and shareholders will get first crack, with some mob in London taking whatever is left.

And why is it taking so long?
Waiting on lawyers. The deal was ready, but at the eleventh hour something happened, in favour of MHL.

I have lost a lot on MHL, but am hopeful that things can change, therefore will hold and maybe participate in CR, if this goes through.

PS. Did you know the Trinidad fields are only 14kms from Venezuela.