Oil Search Valuation & Target Price, page-523

There is no guarantee of a bid eventuating but what have you been talking about?

ASX Announcement
1 July 2016
InterOil notification of unsolicited, conditional non-binding proposal - InterOil continues to recommend transaction with Oil Search
Oil Search Limited (ASX Code: OSH, POMSoX: OSH, ADR: OISHY) (Oil Search) has been notified by InterOil Corporation (NYSE: IOC, POMSoX: IOC) (InterOil) that it has received an unsolicited, conditional non-binding proposal from another party.
Oil Search understands that the proposal is subject to due diligence and documentation.
The InterOil Board of Directors continues to unanimously recommend the Oil Search transaction to its shareholders.
The timetable for the completion of the Oil Search / InterOil transaction remains unchanged and Oil Search notes that the related Notice of Meeting and Management Information Circular have now been dispatched to InterOil shareholders.
PETER BOTTEN, CBE
Managing Director
30 June 2016