I must say I'm VERY encouraged by this article. If PH is willing...

I must say I'm VERY encouraged by this article. If PH is willing to stay with the company and continue the legal fight if the vote is a No, then we have our man. Maybe accepting this initial low ball offer is the Board's way of saying to the Govt, we answer to a higher power and they are going to make the final decision.

A basic negotiating tactic is to provisionally accept an offer with the caveat that a superior needs to approve. Once the superior has rejected the offer, the onus is then on the other party to either come back with a better offer or walk away. Imagine the outrage in NR if we vote this down and the huge pressure that this will put on the Govt to come back with more reasonable terms, particularly once a drilling rig is contracted and the drilling process is truly in motion.

So, let's vote NO, and call their bluff by walking away. This will force the NSW Govt to show its hand.

Given the lack of outrage from the press (the settlement was buried in the business section of the SMH) at the mooted $25 million settlement, we now have a floor amount and there is only one way the next offer can go or the Govt can preside over a circus of epic proportions.

I'm voting No, conditional on PH (or anyone else who is capable) saying he will stay and fight the good fight. I actually think the legal action so far has been PH's finest moments as CEO at MEL.

Again, I'm very encouraged by this development.