takeover probablities, page-3

I agree TBE.

$1 would be very low, but it's not the question for me. My question now is the possibility of a takeover.

IMO it is better to make more research.., enlighten and educate ourselves if it's coming or not. Because I can see the punters are running around, I can see it as a strong possibility. I don't think our management would be accepting any offer like that ($1), however this is business and a takeover is always a possibility even though it is very speculative atm.

Re. Takeover price;
We can't determine that, but the market will. For example; a punter can offer $1, then management might not accept the offer and we can resist it, the punter can change it bid to hostile bid. Then another punter can come up one month later and offer a higher bid,.. that might be going like that. We could get a good value if we were lucky. Without knowing the resources (not proven anything yet) a takeover would be a gambling for both buyer and seller as the source rocks are not proven in Canning Basin yet. If it was proven then our price could be even $10.