Hi all,Thought I would chime in just to throw in my 2 bobs...

Hi all,

Thought I would chime in just to throw in my 2 bobs worth.

Can understand you're sentiment due the content of the ann's. Was interested to hear the perceptions of others but really only got one. Lolly Legs post was met with a flurry of TU's so one can assume this to be the majority sentiment.

It's true that ERM have the option to earn rights to entire 100% of the CMB tenements, however, not necessarily what will transpire.

Through their previous agreement, Clarence Moreton Resources (CMR) were willing to give up 100% of the CMB tenements to ROG. So as per the new agreement, same same, except now it's ERM (ASX:EPW).

ERM have stated, they will push to 60% via the agreed wells. The way I see it, the remaining 40% will be devided equally between ROG and CMR. That is, 20% rights each.

ERM have 38 months to decide whether they want ROG's 20% or can waiver the right. Therefore, it may not happen. Let's not jump to conclusions.

Lolly Legs said ,"what happened to the Talma pilot"? IMO, nothing has happened to it, it will be included as part of the 2 wells drilled by ERM.

IMO the ann was somewhat cloudy and can't be taken completely at face value. Unfortunately, not all is given up with the clarity that SH's deserve.

ERM plan to move quickly (going by the ann) which in the current climate is a good thing.

IMO ROG will retain their 20% for quite some time yet and possibly indefinitely. In reality, ROG will hold 10% less than what they had with a cashed up operator to move the tenements forward. Therefore, ROG could see SP movement in line with their 20% holding while ever they hold it.

Anyway, that's my 2 bobs for now and am maintaining my hold sentiment.

Gaspew ;)

PS. Newland, nice to see you have boarded MEL. You'll be rewarded.......