23000 barrels of oil, page-4

Pacey,

Whatever your view of the colour of my shirt or loyalty to HDR or TLW. One fact is concrete without that bid on the table I dread to think what the shorters would have done to the HDR shareprice by now. Maybe below A$1

If Tullow do withdraw, which I do not think they will, we would see a bloodbath without another bid. It is now looking to me that The Board had to recommend whoever would take them almost panic on their part

regards

Acamas