take-over approach, page-5

An approach some three months old - smoke in the wind from an old fire unless someone replenishes the fuel and reignites.

It doesn't take this long to firm up an approach.

Accordingly, have to believe it is indeed cold - unless the two Adelaide Energy chaps on the BAS board have an on-going scouting role (perhaps self appointed) to drum up a suitor.

After all Adelaide Energy did pay somewhat more than the current market price for their shares, possibly as a punt on Windermere and the Otway permits.

Which leads me to ask (once again) why the Adelaide Energy chaps were allowed aboard as half the directors. A mere threat to call a meeting when you speak for less than 7% is hardly credible. It raises the question of just who is associated with who to allow this to happen.