Fergusons dept intervened to get the deal done end of last year AIUI so with Dept Res's heavily promoting Prelude they will I'm sure already have a verbal but need final binding agreements to execute application.
Biggest danger here is that Osaka/Kogas or MMI etc will want to look at say a 20c TO rather than pay 300-400M+ for NXS's 15% post Shell oppie for 2% @ 75m. Allowing for flogging LT to STO and Echuca, a TO could almost be 50% or more free carried.
The longer it stays here the more likely we get a hostile.
My opinion only.
announcement - we have a deal, page-17
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Mkt cap ! $80.21M | |||
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