Ann: Operations Update, page-1077

Talk about a takeover is very premature but the beauty about Neil having invested so much time and effort into EXR is that he will want to be rewarded accordingly (with a very high price)

Or alternatively, the offer can stipulate late Neil remains on board for X years and for X remuneration which could potentially outweigh the possible thought of rejecting a takeover offer. It would also be a lot cheaper to entice the board than the shareholders.

The ideal scenario for all of us is going to be to prove up as much of the land and as quickly as possible so as to set a very high base for whatever scenario may occur.