Ann: MAY: Bidder's Statement - Commencement of Despatch, page-11

Cara I have posted here why I think the TO will fail .
However if I am wrong and a compelling deal does eventuate I would take it .
The BOD showed courage and did the option deal knowing that if the drill was a failure they would get a lot of criticism .
Their judgement was correct and I acknowledge that .
I thought they might take the safe path .Yes I was wrong and of course I am glad I was wrong .

I also thought that the SM58 drill was likely to be a success ( were drilling their best low risk prospect 100 % not what to like ) and bought into BYE after the SP dropped on the SM74 failure and I bought more after the discovery ( market still has not woken up yet to the growth that this discovery will let them achieve ).Sitting on a big holding , at the moment up 32% and I think more to come .
What I was able to do as an investor with responsibility to only myself I thought the BOD would not do with their added responsibility to shareholders and at a price then out of the money .
I also was able to buy at market 23.5 then 22.5 then 21.5 before the discovery then at 32 then 31.5 then 36 then 33.5 after the discovery .

No I am not presently a MAY holder .

I did trade them a bit about a year and a half ago ? when they were involved in drilling in NZ , lost a little bit but just about broke even .
Decided not for me .
Only became aware of AP when I was researching MEL a few months ago and did not make the connection at the time that he was also the chairman of MAY .
I must admit if all my funds were not already spent I might be tempted to have a punt on MAY this week .
Just cannot work out how far the SP will fall if Santos / Total say no .

Being able to admit to yourself that you are wrong I think is very important if you are to be a successful investor .
It is very uncomfortable and I am not as good at it as I should be but I am getting better .