think you've got it wrong . this is win-win

This is not a takeover . It's a merger .

I'm a long term Dart and Igas shareholder .


If this was an all cash takeover it wouldn't stand a chance of going through at less than 40-50c and personally I'd be hoping for a dollar .

It's not a takeover though , it's a merger and we retain exposure to Dart's assets and gain exposure to Igas's assets .

Sure Dart have more UK acreage if you count the less prospective acreage they are about to relinquish . It's not about quantity though it's about quality .

Mc Goldrick is right about the importance of critical mass and making the playground smaller .

The relative valuations for purposes of the share of the combined entity sound about right . A 50:50 merger would over value Dart .

The only disadvantages I can see are :-
- End up with an AIM listing .
- Maybe we can get a message to Dart's board that for acceptance Igas must dual list on the ASX .... and also a request they move off AIM onto the main market in London .

- for holders of both we end up with eggs in less baskets .

- uncertainty about the NSW acreage


Heres is a question to everyone .

Would you rather accept an all cash offer of 35c which is the absolute best we could hope for ?