they are a sitting duck for a takeover themselves now.I reckon...

they are a sitting duck for a takeover themselves now.

I reckon someone at 40 cents cash would get control of this company very quickly. Just pop up in the market with a "40 cents, take it leave it, bugg#r the expert report" offer. They would be buried in the rush. Would be worth it simply for the cash on hand and the Tunisia acreage, not to mention a (controlling?)stake in IPM. Or even smarter, make a fresh offer (ie the predator makes the offer, not COE) straight away for IPM, for cash, say $1.20 and end up with control of that as well.