waiting for the penny to maybe drop, page-2

Holy/MLA

Sometimes I wonder what you are on about .. and I'm not alone! Your comments make it hard to think that you are not who I have suggested you are. What then is your motivation for posting your dreamy, cryptic comments .... are you motivated by altruism towards we less well informed?

Interesting comments as usual but what is your point? That the OIP/GGX merger is a bad deal? Or that GGX is the pig being dressed up (as you no doubt know I suggested at the AGM)? Or that OIP has nothing going for it? With regards to the Moree and Kurrabooma drilling results David Casey indicated to me some time ago that the results were in fact positive and encouraging. The wells were only aimed at establishing that there is coal there and that they are gassy and only to 500m and they found coal and it was gassy, and 4-5m is not that shabby compared to a number of Qld csg coals. He indicated that they expect that there are deeper coals and even some Walloon equivalents and of course the Maules Creek coals being targeted now at Gwydir-1. The fact that 7 months after the drilling in March and April we still have not seen gas desorption data or any statement of gas content for Kurrabooma is AMAZING .. and has lead me to conclude that there has been a deliberate "go-slow" in the OIP leases. Perhaps so as not to draw attention .. although why that is a good idea only someone like you might know. Care to enlighten us as to what the bigger picture is?

We are all waiting for the penny to drop on the OIP/GGX deal. For a while some of us thought the idea was that ESG would buy the remaining CSG equity in OIP's leases leaving the merged OIP/GGX as a pure conventional play. But when i asked Dennis Morton (you know him perchance?) at the OIP AGM what OIP's intentions were for the remaining CSG equity he said OIP would be retaining it and funding its share in the JV with ESG going forward.

Holy .. can I make a suggestion? Can you be so kind as to actually participate in the discussion on the HC forum .. its a venue for discussion and debate rather than somewhere for you to post your stories and unchallenged statements which always entertain but on occassions have confused or offended (such as the "feeding bananas to monkey's" line). On the ESG thread many of your comments have been well informed and your expectations have been correct ... although your expectation back in July/August that all was good and we would see "massive reserves upgrades over coming months" has proven to be off the mark.

A direct response to some of my questions and comments would be much appreciated.

H