I'm beginning to wonder if the institutions might be looking to...

I'm beginning to wonder if the institutions might be looking to get this small takeover out of the way before they make their money on Tullow being taken over themselves by one of the real big boys. Tullow has built itself a very attractive global portfolio of oil interests.

You are so correct on the complexity of this takeover. Very little of it makes sense. Why no second bidder to date if HDR is now undervalued? What is the reason for the telephone poll? Some Shareholders in UK have yet to receive their documentation apparently HDR have still to send it to our banks for onward transmission to holders here. At first sight does not seem very efficient on their part