annual report, page-2

If my memory serves me right, Fischer said TCW wanted MOL to take the loan. That TCW may be interested in assisting in full finance for the project.

Of course TCW wanted MOL to take the loan, they stood to make 20%, if I had the money I would have lent them the US$150mil. I don,t believe for one moment that TCW would come to the party for the full finance, they are loan sharks in for the quick buck,

Now we find ourselves having to try and get the monkey off our back "Fischer"s words" with this equity raising. Since the announcement the share price has fallen almost on a daily basis. If they don't hurry up we will be down to 40c again.

Forgive my ignorance but if you are trying to raise money for your Company, a falling share price would not look good.??? so why take so long.

With regard to the $700-000 paid to Fischer, in the scheme of Directors pay, its not up with the likes of some. But I think its time that shareholders let Management know that its the shareholders who own the Company. I get the feeling that some Directors think they own the Company.

I still take the view that this is a great resource that the world needs, lets hope that our management can steer it in the right direction.