Thanks Thrumy, Agree with all of your thoughts and thank you for...

Thanks Thrumy, Agree with all of your thoughts and thank you for the management update. Nothing has changed for me and even though i topped up at 14 and 14.5 (too keen!) i might have to have another go if this trades much lower !

I guess you have to ask yourself why this is all of a sudden worth ~30% less than it was a few weeks ago ? I get that the sentiment for resources and small caps inparticular has taken a beating and the mkt has had a very good run (offshore) so likely to have a decent retracement, BUT, you have to be able to see through the short term stuff. If this is proven up as we expect it to be then the value will eventually come out. The mkt will improve at some point and then the value will be realised. Also, if PEL218 can be tied into sales so easily (as thrumy pointed out with proximity to infrastructure) then it is potentially not even that far away from realising the large numbers that have been discussed.

anyway, i am seemingly preaching the the converted here anyway so I will shut up. but as a large holder of this stock I am not at all put off by the price action. Yes it is slightly disapointing not to see the value of your holding increasing but these are typical mkt gyrations that everyone with an "investor" view has to absorb from time to time.

I was doing some charting today and I expect that this 13/13.5 area should provide some pretty strong support anyway. The uptrend is firmly intact also. I would need to see it below 10 cents consistently to say that something else might be happening (ie) the worlds indexes were falling into a heap again.

Thrumy, can I just ask you a couple of questions: When did you speak to management - how long ago ?, how long will fracking take ? did they say anything more about the economics of the project (ie) gas production costs v's gas sale prices and naysayers views on this ? obviously the gas pipeline proximity is very bullish Were they particularly excited by this ? Did they have any specifics on a farmin partner (i am guessing not), And should we expect any news from either company about the shale project before the 20th may fracking date ?
Sorry for all the questions and feel free not to answer them if you cant be bothered !

cheers again