ord minnett article today, page-10

In 2003 Ord Minnett did work for BPT, not sure if they've done more recently - but they're not independent in my view.

Personally I think Eddie has done us all a huge service.

He has more or less personally lifted ITC from 3c to where it is today. A few years ago he bought huge parcels from 2-3c on market and more recently said there's oil there and the value will follow.

I think he's been really great - and I'm happy for him that he survived his heart attack and I don't decry him looking to resolve a sale.

But I think that anyone who thinks this is going cheap ought to consider that we have a reasonable offer from BPT at 8.25c but the doors open for a higher bid.

If we get a higher bid - well and good ... if not, the 8.25c is a fair price.

I think it's probably worth 10.5c on next years oil production, but I'll take 8.25c if that's the highest bid.

Given the recent activity from VPE I expect more to come.