I just don’t get this Propsed buy up - however Could the strategy here be a hedged bet on the oil price bring low. Buy another operator up cheap then sell the whole package when oil is back up - which eventually it will be. Kind of buying up the block next door to your house & extending before you sell it. I can’t see that they would want to explore too much in the current market without further decimation of share holder value - not that there is much of that left.
Ann: OFF-MARKET TAKEOVER BID FOR XCD ENERGY LIMITED, page-57
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| Open | High | Low | Value | Volume |
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