One has to remember risk does still remain with the redevelopment of west linpacan oil field. I think it's a bit naive to assume reserves booked at WL are the same as those at galoc. That being said you don't have to be a mathematician to dummies the present offer is opportunistic with the directors in line for a handsome payout at shareholders expense and keep their jobs. I think management have forgotten they are still meant to be working in our best interests.
Ann: Variation of Takeover Bid - Extension of Offer Period, page-17
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