RC stated that they had allowed Santos to delay their mandatory...

RC stated that they had allowed Santos to delay their mandatory drilling by a year or so, so they probably should be drilling now, but the board/RC have allowed them to postpone, which coincidentally makes it harder for us to prove up now on our own, and assists mac by leaving us short of cash/partners. If santos did not drill i would assume this year they would have lost some of their JV lease options, so where is the quido pro quo, what did we get out of it by letting santos delay.

I would love to get a second opinion on what we can do with the money we have and pressuring santos to take a chance in proving we have sufficient potential to attract another suitor.

I suspect that if we vote no that Mac bank will sell down our stock, i would be amazed if they were not driving the stock down before they made their anyway in an effort in support of their low ball offer. I would expect they would continue to do this if they loose. This may encourage another suitor to start to accumulate some shares.

I am further disappointed that the board and RC seem to have shut up shop, and are not doing anything about looking at other options. As a board they should have a backup plan in case we have enough support to block the takeover. There seems to be a distinct lack of duty of care.