beach energy, page-156

Spot on Invertedva. WGO actions over the last 48 hours speaks volumes and now appears they were using STX to try and flush out a cash bid.... as soon as it came through..... wooshka. As you say, business is business and STX had to know this was a possibility. However jumping to sign the deed so swiftly, these are actions that are not in the best interests of all SH.

Less than 12 hours later, with STX at 28c, the deed WGO signed is already looking silly. But each to their own.

I personally still hope that a merge occurs, sum of two parts provides much greater value. However i dont think STX need to overplay their hand. Let the market do the talking. If STX have one or two price sensitive catalysts, now would be a good time!

Now if STX were to have BPT as JV partner in WE, its not all that bad. Importantly, we are operator AND we would have access to their processing plants, with lower CAPEX and quicke gas to market. That sure is a big positive IMO. Then we use the proceeds from the cash offer to fund a few new holes next year which will no doubt be strategically placed to offer the biggest upside to our 2P+2C.