take-over approach, page-25

Ron when I first saw the "corporate approach" I was very confused but based on the valuation bought some shares in the event that a takeover came good as I think from memory the independent valuation ranged from 4c-9c or something like that

Having seen COE take over SNE for its Otway Basin Shale projects I can only assume and speculate that perhaps it was COE also trying to get BAS's Otway Shale

Then again in BAS's quarterly I note they are now saying
http://www.bassoil.com.au/assets/187/files/BAS%20Quarterly%20Report%20-%20Mar%202012.pdf

"Gippsland Basin offshore - Vic/P47, BAS 40% and Operator
The opportunity has attracted credible interest and while no offers have been received to date, evaluation and assessment
is continuing.

& also

Eastern Gippsland Basin offshore - Vic/P41, BAS 45% and Operator plus Vic/P66, BAS 60%
and Operator
Both Vic/P41 and Vic/P66 are the subject of farmin reviews and have attracted credible interest.
While no offers have been received to date, evaluation and assessment is continuing."


Again this "credible interest" is something new that perhaps Im not paying enough attention to and so I could be way off and maybe the approach was more for their offshore Gippsland assets

The truth is only the company and whoever made the approach knows all Im doing is using facts and joining dots to make as best an educated guess as I can but Id be interested to hear others thoughts on this