polling is underway to assess shareholder intentio, page-9

PTFE,

As the posts here say that the people doing the telephoning represent HDR and not TLW I was wondering if they are attempting to get a feel for the percentage of investors that will return proxy forms. If returned completed forms are few and far between right now maybe The Registars are doing a straw poll to see what the most likely outcome will be in three weeks time

I agree with your comments on why you would say "no". However if I was TLW why should I up the ante until after the vote is decided. In a game of Poker if you hold the highest bid you would not bet against your own bid. However, if the vote is a "No" then you have the option of folding or increasing the bid. This seems a more sensible move for TLW to follow.

Mind you what they could be doing now is preparing the paperwork for a possible new bid shortly after the vote is known, should it be a "no" vote

The worst case is a "no" vote wait a while for the share price to drop,maybe, and then come back with a lower bid. Does not bear thinking about but one must consider all eventualities

So if it is a "no" we have three options

a) Tullow come back with an increased offer

b) Tullow walk away from HDR

c) Tullow holds back hope share price drops and offers a lower bid

What this needs is a second bidder. I hope one appears by the end of next week. Then we may see some fireworks. IMO the potential of HDR is worth more than TLW are now offering

regards

Acamas