new proxy forms, page-16

Acamas

Yes there could be a shock result - Tullow might actually be forced to pay more for Hardman.

Having more people vote, assuming the voting ratio is higher than 75%yes/25%no, only helps to take the power away from the big banks who are in a position to negotiate a higher price, so no, from my perspective there is not a huge need to motivate more people to vote.

My big hope is that the "no" vote, when combined with the big bank's votes, is a block big enough to defeat the motion. I am then happy for the big banks to determine the outcome, because they will act in both their best interests and therefore my best interests, which is to make money.

I don't think the banks will not allow Tullow to walk away from this, there is too much to lose on both sides. There will be negotiations before the meeting and if that results in a higher price I am happy. If the banks don't have the votes to force a higher price then Tullow will get a bargain and I will be happy to convert as much of my shareholding for script.

I doubt that the "no" vote from private investors could ever be above 25%, so I don't think there is much chance that the vote will be defeated outright, but if the balance of power in this vote is held by the greediest of the parties (i.e. the banks) we may all benefit.

Pacey