WN you paint a very silly and highly unlikely scenario.
Firstly, the potential value of BRU's holdings are significantly more than you suggest. You need to read the last independent reserve report. ES and the Board would simply not entertain any cheap farmin offers.
Secondly , nobody would accept a TO offer at 28 cents. Any takeover offer would have to have the approval of ES and Coogee , plus a number of other big shareholders. Just not going to happen .
Twiggy move on Canning Basin, page-26
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