Ann: STX: West Erregulla Update, page-70

...just to get the facts correct: the Spanish assets have not been an issue!
This was (at least) a misleading statement by the WGO management at that time...

From STX response to the WGO rejection (Source, click me):


The main problem in my opinion at that time was, that the WGO management was not available even for informal discussion with STX if a merged company would create more value...
In my Opinion such behavior at that time was not in the best interest of the WGO shareholders (except the two Scots...)



The rest is history and as a STX holder I'm very happy today that STX didn't dilute the value of the Permian Fairway for 50% of West Erregulla. And I wouldn't expect a second offer for WGO by Strike...