Hi Lionel,I pretty much agree with all you have to say.I love...

Hi Lionel,

I pretty much agree with all you have to say.
I love Exco and fully concur that the company holds a unique appeal.
I may well be wrong about the situation but I just have an uneasy feeling that the stock could drift a little lower.
Is it not possible that some big holders who have picked up the capital return and dividend might also be seeking a tax loss as well?
I made no mention of the Great Australia royalty as, although useful, it makes no contribution to Exco's coffers other than to defray the company's now considerable cash outflows on exploration, development, production and administration.
In the last quarter outflows were $8.29 million, estimated to rise to $8.75 million for the current quarter.
The contribution made by the Great Australia royalty will, even at full production, provide less than 20 percent of current quarterly outlays.
FYI the stock to which I referred is MGV which was recently changing hands at 8.5 cents with just over $17 million cash in the bank.