I agree, if Totem is successful then TAP may escape the claws of...

I agree, if Totem is successful then TAP may escape the claws of the Poynton mob and of course Underwood would describe the approach as “opportunistic”.

Unfortunate it his fault that TAP going to be T/O in the first place. Poynton will have a field day rubbishing Underwood and the current Directors, for example Poynton might play on the following

1, why is he (Underwood) hanging around like a bad smell. Just for the pay check?

2, under utilisation of it portfolio of assets in the NW shelf etc.

3, negative shareholder return etc.

That’s why I think if Poynton and Macquarie are going to do anything (T/O maybe) it will be soon, grab a much larger shareholding in the TAP at these low prices, the share action yesterday certainly looks like a stake building exercise to me!!