I do not understand it either.We receive $1.30 cash...

I do not understand it either.

We receive $1.30 cash and.....

Surely the 'new QGC' is worth .50 cents because of:

the amount of land still availiable to explore and the confidence management has in this land

plenty of cash

substantial contracts with STO

proven quality management..... ect ect ect

I would have thought strong buying would have continued up to the $1.80 mark and surely the chances of a higher bid have improved.

I understand that at the moment, this is just a proposal, not an offer but I would have expected around $1.80 now to be the floor.

I think Santos has adequately explained why they could purchase shares in the 'new QGC' at a discount.

I assume the 'new QGC' would still keep the money obtained from the last rights issue last August?

I would imagine that if an IPO was launched with these positives and without the benefit of QGC history, .50 cents would be very reasonable.

I have been with this company for a long time and am very happy with it's performance so I topped up this morning at $1.61 thinking the above.

All comments/opinions appreciated.