Ann: Galoc Phase II Drilling Update Number 11 , page-8

Lets wait until the drill bit is turning talk is cheap in the meantime. As shown by Duhat things can go wrong very quickly. Lets see what happens if galoc supprises to the upside one would think otto will run harder due to its ~50% higher equity share in Galoc on a like for like basis. The elephant in the room is SC 55 if this can be resolved and BHP do want to drill then punters will abandon ship over at Nido. Personally a combined entity would do much better than two minnows trying to outdo each other but mangement of the takeover target would oppose such a arangement as it would not be in their personal interests to lose a seat at the trough.