I'm not "impying" that brokers/funds arbitrage the two markets -...

I'm not "impying" that brokers/funds arbitrage the two markets - they just do!!

Its part of their job.

It would be interesting to see what happens in the case of the success case in Uganda - I suspect that the UK will be much quicker on looking through the valuations against Tower and other stocks active in Uganda and the Aussie insitutions may find they end up losing their stock quite cheaply (because they don't have the complete picture in their market re East African drilling activity).

I also think the GBP are "clearing the decks" for some sort of corporate activity (FOGL sale etc] - I expect them to be merged with another company or taken over within the year.

Incidentally, is there anything in the Aussie press about the legal action against Woodside - that must be grinding on.

ee