sto/esg/gastar/hgo tranasction implications, page-42

Keijo, you need look no further than PES to see where the takeover started (around $1 from memory) and ended up $8.25! I think at $4 or so the board accepted and recommended the Arrow offer too, and yet in the end it went for $8.25, so even if an intial offer came in at say $1 = 100% premium I doubt it would succeed, rather all it will do is highlight the value of MELs assets


The mkt is not effcient! if it were making profits would be impossible as everything would always be fairly priced

As the Oracle Warren Buffet has said "the money flows from the impatient to the patient" and as the other Oracle Benjamin Graham "The Intelligent Investor" quipped "In the short run, the market is a voting machine,
but in the long run it is a weighing machine."


Well right now the impatient can't be bothered with MEL because its been around with its huge reserves for so damn long and done nothing but flounder so they are voting it down and leaving it, however long term the market will have to give MEL a fair and equal weighting when compared to its peers which I have shown based on comparative EV's is at least $4-$6 and so eventually the profits will flow to us patient holders : )