Hi Folks,
Looks like we're currently nearly neck in neck, with COE running with both hands tied behind it's back - hope it doesn't trip!
TPA/Malone with 8%, plus management/formally declared friends at 13.5% for 21.5%, and growing with on market buying.
On market buying means no desperation selling to COE, suspect Malone/TPA with real immediate cash on market will mop up loose holders faster than COE. Hard to see COE getting a lot of traction now, might be stuck with a little over 25%.
TPA/Malone/management look like like having all the options at this stage. I guess Malone will get a board seat at the least - can't see one offered to the COE boys though.
EL
IPM
incremental petroleum limited
looks pretty even now
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