a scrip takeover masquerading as a merger, page-8

TestPilot,

I am only a relatively new holder, and was also critical OIP's indolence when they were well cashed up.

The GFC has been and gone, but OIP hadn't got the memo.

In any case, drilling drives the price forward, whilst inaction cause price stagnation.

BUT

This is not an EITHER/OR debate.

I will be happy to see OIP drill, and then their price, if successful, will begin to reflect not just the value of their cash, but also of their assets.

It is absolutely the WORST time to be using OIP scrip to acquire/merge with a cashless company.

So let's not distract people by pointing to the old board, and OIP's inaction this year.

The inaction was not acceptable. And neither is this merger, under current terms.

Here is a promise. I do not have the numbers to affect this vote. BUT I HAVE A STRONG VOICE.

If the deal is going to go ahead, the current OIP board can still change the 2.25:1 deal to better reflect OIP's real value. They have left this possibility open, and so can still save face.

It is not to late to change the deal, and get OIP's independent shareholders' support.

Y