cooper on sale at 5 cents above cash, page-30

Hey EL,

Appreciating your point of view about this takeover more and more. Starting to think its a complete waste of time myself little alone wasting probably $2 to $3 million in preparing offer, distributing, promoting, legal fees etc. That is a complete guess of cause. If anyone can find the real costs, please advise.

Am starting to think he made this takeover so he wouldn't get taken over mind set but in fact its made them easier prey now its 32 cents.

The shareholders who were happy with plenty of cash, low cost production, high oil price, 400,000 barrels, 40 million revenue, and just waiting for the high impact drilling next year are NOW worried what they are thinking or doing with this IPM bid and would take any offer now management cannot be as trusted.


When you say cooper won't last long under current management, do you mean takeover for cooper or just replacing the board. We have about 7% shares combined between the hotcopper posters. Can we get rid of the board at all? Are you going to AGM in Novemeber? I am probably to at least say my 5 cents worth about renumeration, takeover bid and giving no relief to shareholders who have stuck around during the quite drilling period when all the traders bailed on Kurnia and Gurame. I saw MS on sky news. He said its hard for small company's to get shareholders. Well some assistance MS via a dividend somtime this decade or a buyback just to let us know we exist and are paying your wages would be nice then you might keep the shareholders you have left at least. Its SHREPRICE NOW EQUALS CASH AND EQUIVILANTS. Your doing a great job for shareholders with your growth opportunities. It was a bargain when he got it at 49. Still not cheap enough at 32 for him and the directors to buy more or the company to buy.