orion letter to shareholders, page-4

Very good post H.

I want to know about the gassiness of the coals in PEL 6 from most recent corehole drilling, as the IE sas completely written it off it would be interesting to know if they've sighted this data or if they're simply justifiying a position.

The whole report is permeated with an underlying tone of 'OIP has nothing; GGX has pretty darn good prospects' which on balance just doesn't make sense to me (especially as they value the companies almost equally). I am very suspicious of the relationships of the authors of this report to material GGX shareholders.

Further, I think it is also a very tenuous proposition to say Russell L. is an independent director for the purposes of this matter given he resigned his GGX directorship to join OIP (from GGX market reports) and he was employed to get the merger through. I am wondering if this too could end in a Drillsearch type outcome...