Ann: Ambassador Oil and Gas Limited 02 Application/ Interim Order, page-5

There is one aspect that concerns me invertedva about the Magnum T/O - and it has been pointed out in the DLS application to the T/O panel - the (my) concern is that the cash payout equivalent if we do not want Hunter shares is not stated in the Magnum bidders statement - as a matter of fact they indicate in Section 15.9 that it will or could be less than the equivalent price of the MHR shares - and they publish a formula for the degraded value.

Of course if one is happy for the script swap then this doesn't matter, but if you want cash then don't expect the full value. .

Up till now I was sort of cheering for Magnum - now I'm not so sure.