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  1. 22,265 Posts.
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    Yes Grebmoolb, my main concern with the SP and MC is that we have now become a very cheap takeover target. Don't underestimate the inherent value of that GSA, nearly priceless to some players in our sector.
    For example, if Beach are so keen to get into 855, then if they lose the Court case a cheap takeover would not be out of their minds.
    Beach has become very aggressive and predatory over recent years and even if they win the case could go for 80% of 855 and not be satisfied with just 40% from winning. Also puts ADE on their radar and go for the whole 100% so they have complete control. Definitely not out of the question, but, any TO offer from Beach "should" bring others out of the woodwork just to get that GSA and our leases. How BOW for examplw would like to have what we have in addition to theirs??
    TO is VERY much a high risk at these prices.
    Extremely "interesting" times and would be most surprised if management do not realize this real threat.
 
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