1. The funds which play situations are exiting - significant short term selling pressure -medium term the share price should reflect say a two train development - maybe $20-25???
2 Shareholders were so lucky that management did not recommend a sell at $15.50 in stage one of the BG sting - only because the Santos deal serendipitously was announced and gave the Board justification for rejecting - they did not want to sell - but felt they had to recommend a sub-optimal bid because the institutional shareholders would demand their immediate profits - and corporate law puts pressure on the independent directors to take a position based on facts - so there is pressure to recommend a sub-optimal bid - shades of MIM and Olympic Dam and Shell's move on Woodside and the current scandal of Indophil - how canthe system be changed to get better advice to retail shareholders?
ORG Price at posting:
$16.58 Sentiment: Buy Disclosure: Held
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