Ann: Indicative proposal - due diligence update , page-16

re: Ann: Indicative proposal - due diligence ... I agree it sounds like LNG and WCL are working toward an agreement.

I had a listen to the MPO boardroom radio presentation given by the IR person and she states that discussions re Mungi are now at a point where they are talking figures on a transaction- with one party. Nothing is certain and she also added that if the process didn't progress to a sale soon they would close it off.

This is significant for WCL I feel. As you say SF, MPO has to be one of the other parties, and here we have MPO saying they are now in the room with one party batting around numbers. Is it LNG? You'd have to think so. I've ruled BG out having looked at how much money they are trying to release from their balance sheet atm. Assuming it is LNG how long can the process go on for?
Eg, say LNG offer $50 million today. A day later MPO say that is too low, we won't take anything under $100 million. 3rd day LNG say "how about $60 million and we'll throw in a set of steak knives"...MPO "You should know we are going to sack Lazard soon and mothball the sale process if you don't start being realistic" etc
Can't see this dragging on for long - maybe a month?