How to defeat a Scheme Of Arrangement, page-99

Khop, please get some prespective. Most of these people weren't advocating a no vote result per se, they were against a yes vote to a rogering. Of course I'm unhappy with the significant paper loss today across both stocks but, without knowing the intimate details of the negotiations, I'm confident the buck stops with Stuart & stx.

Why has stx's SP price fallen too if everything was going so well? Perhaps the market recognises that it needs the cash flow for it's ambitious plans. Imagine if Gina had let stx win the wgo battle. Would've picked up a great asset but no cash windfall. Seems to me that despite the cash bonus stx achieved in that play it is still spread pretty thin financially. All exacerbated by the delays in delivering Walyering.
In summary, I see this as a self inflicted, possibly calculated, wound by stx and the bleeding has spilt over both coys. I hope neither of us haemorrhage.

Personally, I think tpd is nicely poised for a small exploration company (soon to be in production) albeit it may need some debt funding because its JV partner is under preforming its stated timelines.

If stx really needs the FCF they'll be back with another offer? Will they be in a stronger position than the last two times...time will tell.