Regarding Metgasco’s announcements to the stock exchange. Some questions need to be asked:
1. What is behind the latest announcements about Metgasco and its Rosella E01 status? Why was a statement issued on 16 May that Rosella E01 will not be drilled in the near term as police resources had been reallocated?
2. Was the NSW police minister unable to muster 900 recruits from all over NSW to take on the protesters? Did some police abstain from their duty as they were anti-CSG, making it difficult to achieve the numbers?
3. Was lack of police recruits the real reason mining minister Anthony Roberts suspended the drilling and made the referral to ICAC?
4. Would the government have lost face if the protesters had put up a monumental blockade which would have received world media coverage?
5. Was the NSW government concerned about bodily harm to both police and protesters, as the blockade could have turned into a bloody battlefield?
6. Re: Metgasco’s annual reports: ERM was not in the top 20 shareholders in 2011. It was only in 2012 that ERM started buying in heavily and became the second largest shareholder with 31,841,903 shares. The annual report of 2013 shows ERM’s shareholding increased to 57,122,009 shares when it became Metgasco’s largest shareholder (12.61 per cent).
7. Who was the buyer of 6,340,898 shares which were traded on Friday, 16 May 2014? Was it ERM, who appear to have been buying shares at seriously depleted prices?
8. On 15 May Metgasco shares were suspended on the stock exchange and a statement made that the trading would not recommence until 19 May. Why were Metgasco shares traded on 16 May with 6,340,898 shares changing hands?
9. Is the gas market being manipulated by unknown entities?
Margaret Howes, Empire Vale
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