Ann: Hancock Energy - Eighth Supplementary Bidder's Statement, page-20

People.

Mum and dad investors are not buying shares valued at 36cps (at best) for 39!

Whoever is doing this wants WGO and to the best of my understanding, it by law, cannot be Gina Rhinehart or any of her associated companies.

So who is paying this premium? And how far are they willing to go?

I am adamantly giving my shares to STX, to stop any predator getting access to them, but if I am to be brutally honest, my finger is twitching above the sell button lately! The only thought that keeps me from pushing down is that someone with very deep pockets is buying above the 36cps we have been promised if Hancock gets 40%.

Then today, the HPL crew starts calling around. She is on the back foot, she knows it. The two snapper heads running the show got out for 28cps. If Hancock only gets her 26 odd percent I am sure she still won't care, especially for such a cheap price and when someone is paying well over and above even her best offer.

The loser will be STX. This is why I haven't sold and am adamant about transferring to them. There is zero doubt in my mind that someone wants into STX now via a seat on the board or potential future takeover. I stated elsewhere, that as WGO sits, there is no plausible reason why it is being bought up in such large amounts and that STX is going backwards, so much so that this little joke is now worth more than a company about to start ACTUALLY pumping gas.

Whoever is buying these shares is not doing so because they think they are going to make a profit on them.