Buddy 2 things. McBank have much more $'s at risk in the debt...

Buddy

2 things. McBank have much more $'s at risk in the debt and the gas prepayments than they do in the shares in CTP. Therefore, they will vote to maximize/maintain this value in the upcoming meeting. That means a NO vote, IMHO.

Re STO it is worthy to remember that STO was the 100% owner of Mereenie and it was sold for a lower value than what was seen in the IER and therefore by inference, the 20 cent offer in the SoA. These assets were also up for sale back to 2013 if I recall as well, so it wasn't a quick decision. I doubt they will return at a premium price. The Magellan assets were also on the market for a long period and could have been purchased at any time, should STO have wanted to expand. These were orphan legacy assets for Magellan.

Secondly on STO, I am aware that they are still in a capital preservation mode, with little discretionary cash being spent. Even business travel is limited, which speaks volumes For that reason as well, I doubt an offer will be forthcoming from them for CTP. Scrip can be used, but at this price for them??? They would also face the same capex issue that currently faces CTP.

A mentor once told me that waiting for a takeover was a bit like trying to pick up chicks in a gay bar. It may happen, but the odds are against it. (apologies if this offends).

Cheers, AL