bid not recommended, page-19

But they made such a statement from the point they got to,or were likely to get to, the 50.1% level at which they can treat AZA as a subsidiary. They got there in one hit when they got AELs shares. Nothing has changed since -they will take 52%,or 62%,or 72% or.... but they sure as hell would like to get to 90% and knock off that pesky group of troublesome shareholders who want a fair price for their shares and who will be a thorn in their sides forever more, as well as an ongoing" tribute" to their inability to offer a price that a significant % of AZA shareholders view as fair and reasonable. What a tragedy- a neat ,little oil producer with a good future and no borrowings getting taken out by a company with substantial borrowings,a particularly poor SP history , and diminishing cash flow expectations. My advice remains- reject the offer.