Siriusco,
I was interested in you point about the price being driven down and looked at the closing price for each Wednesday in London. I have listed them below:-
12 July 78.50p
19 July 71.50p
26 July 67.00p
02 Aug 62.50p
09 Aug 59.00p
16 Aug 57.75p
23 Aug 60.00p
30 Aug 58.25p
06 Sep 58.00p
13 Sep 49.75p
20 Sep 48.50p
27 Sep 80.25p
According to what we have been told Mr Potter spoke to Tullow around 5 weeks before the takeover bid was announced somewhere between 16 Aug and 30 Aug but the price hardly moved then. The interesting week recently it 06 Sep to 13 Sep down 8.25p. That would seem to be what you are suggesting to driving down the price and then two weeks later the price is up to 80.25p making the bid itself look more attractive.
However if we look early at the start of the list between the 12 July and 9 Aug the price drop was 19.50p. Now what caused that? A drop in the oil price maybe or was Mr Potter going around crying "business for sale any takers". I do not know but that drop intrigues me far more than the one in September
regards
HDR
hardman resources limited
