Ann: Update on discussions with Consortium, page-32

I am thinking that the due diligence is well and truly finished. Most of it was done last year .
I think what is happening is more about some large obstacles EIG and Brookfield have to get over. These obstacles could relate to agreement between Brookfield and EIG on values , with EIG not ascribing the same value to the APLNG project as Brookfield does. It might also be about how to structure the deal with a jointly owned bidding company and how they avoid preemtive rights being exercised on the APLNG project. The first issue would almost certainly result in a lower bid , which was already likely anyway.
I don’t know , but it may be possible that preliminary talks have been held with FIRB and indications that FIRB might object to all or a part of the deal , but nothing is approved until a firm offer is on FIRBs table to review.
So many potential roadblocks , and in the meantime energy prices seemed to have come off the boil.
ORG right now is priced around its true value , so buying now will either result in people holding the stock and getting reasonable returns or selling into a reasonable revised bid.
ORG needs to grow a pair and announce that after a certain date no bid less than $8.50 will be acceptable . In other words, pi$$ or get off the pot.