tullow booming today, page-40

Hi Burmans and Hardmano,

Yes, I agree that there is always the chance, however slight it may be, of the t/o falling over, as they say nothing is final till the fat lady sings.

On the other hand as REDAL pointed out, there is also the chance of a second bid, again however slight it may be; the case quoted was BHP t/o of WMC at the very last minute and at a much higher price too.

On thing in our favour is we have a floor protection and with TLW at the current price, it's something like 2.13 for HDR and going up at a steep rate.

For myself, even the current price of TLW will get me out of jail plus a small profit.

One thing I am not sure is, what happens to HDR's t/o if meanwhile a bid comes in for TLW? I think they will still have to honour it you would think. If this happens as Hardmano suggested could happen; then at a t/o premium of even 30-40% (but it would be higher i am sure) it 'll give us 2.50 HDR equivalent. We'll all be laughing wouldn't we!