Ann: BPT: Proposal to acquire Warrego Energy, page-3

20c cash from BPT plus the Spanish Assets. I think the directors would prefer the cash and keep the Spanish assets.

“Beach has a significant acreage position in the Perth Basin. We are investing heavily to bring new gas supply to market, including Waitsia Stage 2 LNG volumes and gas exploration drilling which is soon to commence. The proposed acquisition of Warrego would complement our asset portfolio and provide further optionality to develop new gas supply for many years to come,” Mr Engelbrecht said.