I can't imagine Chatchai being interested in the NW Shelf...

I can't imagine Chatchai being interested in the NW Shelf assets.

I think our Joint Venture Partners (BHP, Apache, Santos, ENI et al) would looking very closely to see if a takeover of Tap triggered their preemptive rights over WA-351-P (Tallaganda) and WA-290-P (Zola/Bianchi-1) (and Prometheus/Rubicon).  If there was a doubt then they would want to buy those reserves before Chatchai got ownership so that could force their hands.

The value of those reserves is significant as you will recall BHP sold 25% of WA-351-P to Apache for over $40M ( and that was before Tallaganda discovered significant gas)

There is a case that is relevant to this situation (I think)
http://www.allens.com.au/pubs/res/foresnov06.htm