could ipm make a counter offer for coe, page-3

Hey auto,

I don't mind if IPM buy cooper shares. Every IPM shareholder seems bitter about the COE takeover. I won't be bitter if beach or IPM start appearing on our registry.

Agree, they must be scared about the cash bid succeeding now market is in crisis. I would rather keep our cash reserves now personally or give it COE shareholders not IPM shareholders. It was one of the reasons that attracted me to this company to me in the first place.

Anyway, had a quick chat with Hancock today.
Mentioned the buyback suggestion. Does not seem to be on COE's agenda at this stage. What a surprise just like the dividend policy. That might help out enhance or unlock shareholder value. Mentioned the script bid for IPM would have no chance now. He said the share price isn't important for another couple of weeks yet. I don't think COE shareprice will do anything in the coming weeks. Mentioned the takeover has made us vulnerable ourselves. He seemed concerned as well and is checking the registry from time to time but obviously not concerned enough to launch a takeover bid or consider giving shareholders some return as an incentive to stick around. The Bargou block is waiting for ramadan to finish to continue proceedings with gaining the permit. Hammanmet will not be farmed down cause they did raise $65 million capital and this was one of the main reasons for raising the capital. Will cost an estimated 13 to 15 million to drill roughly.

Sorry if I seem frustrated with mgmt Auto. Its ELs and their renumeration reports fault LOL. Once this bid for IPM is dead and buried, will be much more relaxed. Forgot to ask how much time and money wasted launching this bid.
Maybe a question you can ask next time.