davmac - not sure what happened to your post above?
Anyway, there will almost certainly be other s/hs who will grab 45c if they were assured of a quick settlement. That's just the way it is. I am pretty sure it will not be too many.
THE CLOCK IS TICKING
As time progresses, it is L/B which is fighting the clock imo.
The longer their t/o offer drags on, the closer WCL new drilling programs nears completion, and the nearer WCL gets to confirming to market their ability to produce those gas flows.
So that perception of production Risk diminishes.
As that risk diminishes the more transparent the value of WCL shares become.
So if the L/B Offer closes, and L/B do not get the number of acceptances they desire, then if they wish to come back with another offer at a later date, then WCL will have "boxed" all the risks, and be able to demonstrate further production figures.
For example, during the currency of this bid, WCL has already been able to answer the L/B assertion of WCL s/h being exposed to a Funding Risk - we now have WCL stating it has already received a number of funding proposals to finance the entire 65tj/d production needs of the GSA (and not just the proposed prod'n of 40tj/d).
WCL Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
