Major shareholders, page-4

You might be right and the fact that the price is below 30c means a lot of people think you are right.

On the other hand, buying out a company takes time and generally costs a significant premium over the current price. Also, the fact is that EGI were buying and that there are longer term substantial holders who are in for the long haul. They probably understand the value of the assets better than the rest of us and would not accept an offer at 30c.

Kelso appear to want to accumulate significant oil assets as a bigger picture oil recovery strategy.

I'm betting that getting assets at current market prices is part of that strategy and distractions around buying companies out over time to make those purchases 15% cheaper is not part of the plan.

I'm hoping that (for once) we have just got lucky and that it's a great deal for us and a fair easy deal for them. They're already onto the next deal probably.

Again, you might be right, but if you're not you will watch the share price go to 60c+ over the next few months.

Jeez, I hope that's what happens anyway - I'm in with both boots!

Cheers,
pb