Malcolm in the middle I remember it well. It was 2011. Eastern...

Malcolm in the middle

I remember it well. It was 2011. Eastern Star Gas was very lucky to have been taken over by STO. I say lucky because they had an ex pollie by the name of John Anderson as a director on their side. At the time the Greens and Lock the Gate started their scaremongering campaign in NSW and succeeded in shutting down ALL of the gas industry, as the short sighted Baird State govt was more interested in protecting their jobs rather than energy security in NSW. I was a shareholder of MEL. They were just about to drill a conventional well not CSG (which was what the Greens were against) and still was stopped from working by Baird Govt at short notice after having all approvals in place. We took them to court and won and even then to protect their own jobs the state Baird Govt would not offer MEL police support to start work. With MEL in a corner had no choice but to accept a paltry 25million from Baird Govt to buy back PELS in Northern Rivers after spending over 120million of shareholders money and finding over 1 billion dollars of gas which is still in the ground.

After our major shareholder pulled the pin as MEL had no other interests back in Nov 15 i too pulled the pin on MEL and lost almost all my retirement money. Then I bought STO at 4 bucks thinking what a bargain only to see it drop to about 2.45 due too low oil price. Thankfully when they got back over 4 bucks I dumped them and bought SXY, I think it was CEO who tipped SXY (thank God) and Thank you very much.

Still have not learnt my lesson and have all my eggs in the one basket with SXY,to hopefully save me.

I think in NSW Agl's CSG site is the only one operational. And STO are still having problems with ESG Narrabri site. I think it cost STO a billion to takeover back in 2011 at around 0.90 cents a share. I remember because had they not been taken over by the big boys STO ESG would have been ruined just like MEL left with nothing.

Go SXY. I have to say feeling confident at long last.