goodaye again Gassed,you cover a lot of issues in the above...

goodaye again Gassed,
you cover a lot of issues in the above posts.

you comment:
"My only guess, is that "something" only known to ADE and BPT, has created this new hostility for BPT to take such action,.."

I have to say that this probably was not the case at all - because i reckon thats just the way Beach operates.
Beach will look into your eyes and tell it loves you, whilst its hand sharpening its knife!

IT'S GOT FORM!

Whilst i was suspicious wrt Walkers late buying, he was probably just offered 20c cash NOW by a broker, and jumped at it. luck of timing i guess. I recall a very similar thing occurred to IPN way back. One s/h bought at 17c and only days later a t/o at around 26c or so.

From experience, i can say to ADE shareholders, that it is now a MUCH different game now.

And thats important if you are still an ADE s/h. because the puppeteer pulls the strings.

Now that Beach has absolute control (as distinct from ownership), ie over 50%, the game changes.
I am not certain of the legalities wrt to timing, but Beach will dump the board of ADE ASAP.
they will only leave a minimum of "independent" directors on the ADE Board to keep aSX/ASIC quiet.
They will need at least one existing ADE board member to act as an independent whilst the t/o is still underway.

whilst the t/o will stay open until 22 Dec, Beach will obviously get plenty more acceptances.
And remeber they don't need to get to 100% - they only need to get to 90% !
So they do need to get the shares of the ADE board.
once the board rolls over, the flood gates will open.

the IER is pretty much a waste of money.

all it will do is give the ADE board an excuse and basis upon which to argue for an increase.
But Beach can simply not listen - and wait-out the ADE board (or whats left of them).

I too would just love to know what RJ is thinking now!?

If Beach do end up increasing their offer in order to entice the ADE board to accept, then that has just GOT to be a very very clear signal that ICN is next in the firing line!

the stakes are now so big - this resource must be so valuable, that BPT is intent on owning the lot.

this is not ramping - its pretty clear that this "basin centred play" represents a huge new energy resource for Aust, and is world class. And these guys are NOT re-inventing the wheel to turn the resource into cash - the Yanks have been there, done that.

we should hold onto our hats.

cheers