hardmanogood post...one of my problems with this is that the...

hardmano

good post...

one of my problems with this is that the real rational seems to be that Tullow will manage Hardman's portfolio better than Hardman can - BIG vote of confidence in the Hardman board and management.

Great - when this happens - usually there should be a share swap option - so current Hardman shareholders can vote with their feet for new management - no change in cash - just equity and management.

This deal does not provide that at all - its $2.02 - thats all - except that there are only 65 million Tullow shares available on a rougly 1:5 basis to Hardman shareholders - which means that half will miss out! Great guys. So in reality, we are not swapping to better management, we are just gettijng cash - i.e. passing our assets to better businessman - and with no future upside to Hardman shareholders. us mug shareholders therefore get no upside benefit from better management from Tullow! This is the real problem - sure - hardman hint that the "merger" will be a better company - byt geuss what - if you are a Hardman shareholder - you get fu**ck all benefit from that upside.

Thats why this deal stinks - low price - and no upside.

This deal is a disgrace - the board is a disgrace - the MD - Potter is a disgrace and most importantly, the Chairman Robert Carroll is a disgrace.

If they believe that $2.02 is a fair full price for a sale - then they MUST ALL RESIGN if the market disagrees. These people are unbelievable - they must think that we are all stupid.