All valid points Phil.. as such the reason I'm putting it out there for feedback and thoughts.
Yes, SDL is a historic cluster %^* created by incompetent management... but the situation, commodity, accessability and economics for the FAR asset is simply not the same as the stranded I/O asset from that company which should not be mentioned.
With the new players coming on board at 8.5c, if a left field offer come in at 12c, those players would be happy with a 50% gain and because of their holdings, management will "take instructions" from them.. Meaning.. if BNP and JP morgan and a few others who bought at 8.5c are happy with 12c and request the management to support the lowball T/O, they will do it... and the rest will be buggered... In that instance the blocking stake, of which we will be part can prevent the T/O and business as usual. We already have the oil. If BNP or JPM don't like it, let them hit the road ( these are the guys that buy and sell into and out of FAR on a daily basis in anyevent and I'm sure someone else would gladly take their shares.)
But be certain, management's decision to support or not support a low TO offer will be at the instance of those major shareholders who hold the string and who'll be happy with 12c because it's a 50% gain in their books. We are at their mercy... the big banks and shareholders.. management cannot protect us.
And the supposed rule that an offer must be taken to shareholders to vote on. That is a farce.. for the reasons stated above.. A few big holders (banks etc) pull together and their votes will see that they get what they want.
Is it something for the "too hard basket"? Don't know. It might be just one phone call away..
Looking at some notes from way back, I note that there are at least 40mil shares being held by a few on here already.
But let's keep the thoughts coming..
FAR Price at posting:
7.8¢ Sentiment: Hold Disclosure: Held
(20min delay)