Whilst I do not know for sure, I highly doubt Carnegie wants to...

Whilst I do not know for sure, I highly doubt Carnegie wants to lead a TO bid. IMO he wants to make his profit from those in Armour who are experienced, and who have achieved success before, with maybe the sweetener of extra pipeline business for his own Company.

After the Westside attempt, I can't see another TO attempt on the horizon tbh, for a range of reasons, including due to our Capital Structure, see below. Also, Australia is awash with large to very large potential gas deposits. On the subject of Takeovers, I kind of hope WE Take Out our neighbour Empire at .03c SP, and as the new owners, we get cracking on a massive combined group of tenements lol !

If you look at our Capital structure, Armour is virtually takeover proof IMO. The last annual report lists basically all issued stock as being owned by 322 shareholders, of which only 2 are listed as Substantial Holders : DGR - 22% and Paul Cozzi - 6%.

The next 10 Largest Holders (HSBC, JP Morgan, BT, Lachlan Star etc) own 22%, which rounds off 50% of the Companies listed Shares. The other 50% are held by SH like myself and other people in this thread. Then, there is a substantial number of Armour's unlisted securities, which in the event of a TO attempt could be ported from off market to on-market which would confound / foil absolutely any T/O in my view. Smart operator is our NM.

Mind you, in order to even be considered an ongoing juicy target we need to maintain our work ethic, we must keep delivering, we have a lot to do and achieve yet.

GLTH