Ann: Hancock's Offer Unconditional and 5th Supp, page-9

There is also the tax implications of accepting the cash offer over the shares in Strike.

Most people that bought into Warrego over the last few years have been speculating about a gas business being worth a lot in the future, not just to get a little profit (some would have a loss by accepting cash at this point!!). Even those wanting a T/O would have wanted a lot more than the current cash offer.

Strike's offer gives the speculator upside potential, which is what most wanted when investing here in the first place. It appears to me the only ones that want the 'certainty' of the cash offer is the BOD, who want to take their cash, lots from freebie shares, while not bothering to consider those that invested real cash into the business.

I'm holding as I think we still have a way to go, with the market expecting a higher offer. Why does this board decide to accept 'offers' so quickly?? Why don't they take their time to make an informed decision?? IMHO it's self interest and they couldn't care less about the rest of us.. They haven't even bothered to put Strike's 'bidders statement' up as an official announcement, yet they couldn't wait to put up the original Beach bidders announcement and accept it...