trading halt, page-21

Guys
After reading tonight's AFR update ( Afr is pretty good south it's sources)
And re reading ROCs ann , it seems to me ROC is involved in the transaction but I doubt the are themselves pursuing a TO . So most likely Roc may be offered the beibu assets as part of the change of control ten action and a bigger company will acquire gas assets . I doubt roc want Maari ( although OMV might )

Many reasons to suggest roc is not the one launching a TO
1. Size of ROC vs size of HZN
2. Rocs stipulated focus ( gas and NZ not in target areas or expertise )
3. The actual differences in ROCs vs HZN wording. Roc talk about possible announcement relating to ROCs 'involvement " in possible transaction

If I were a bidder or HZN for its gas assets , It would make shed to on sell Beibu and Maari to JV partners , thereby reducing the cost of acquisition and making transaction value accreditive . I would suggest Beibu could command about 140-150 m Maari 100 m meaning acquirer could make a bid for 600m pay only pay 350 m for gas assets