i love this share, page-35

You have to stop being so negative Swan. If the fields were only worth 400 mill ( your figure, they are worth more than that) then Kar would pay less than that, or do you not acknowledge Bob has always sought a good deal.

Having bought a fair bit of stuff around the place, ( My first two businesses were negotiated for next to nothing, owners gone broke, but massive value in the infrastructure) I believe any intelligent bider would have factored in a massive margin of error into a bid price. The fact that the top bid is so much higher than the others tells you that they are crazy and haven't taken all the operational factors into account. No operator status either.... Unlike Karoon.

If Karoon did happen to secure, you are looking at massive instant cash flow, Echidna appraisal on the backburner as you say, to be brought online as existing fields run down.

A perfect fit, I would think.

It would be the best thing that ever happened to Karoon. A game changer IMO.

As for backing, why not simple bank finance, if the figures stack up.? Money is cheap.

It's too bad for us, as we are constantly told on here, the board and the family have been sitting around their twiddling thumbs, sucking the company dry. Imagine if they had really been trying to buy an asset. ! They might have been able to turn us into a billion dollar company again, this time income producing. .