Ann: Pure Recommends BG Group Takeover Offer , page-24

re: Ann: PES: Pure Recommends BG Group Takeov... Ya,

Depends what Shell/AOE want to do. That WCL are in JVs with BG does not prevent AOE/Shell taking WCL out and holding an equal 50% of the resource alongside BG. If AOE/Shell hold their 30% in PES there's some serious bargaining power on how to share the resource and/or infrastructure. The great infrastructure game is only about to begin - or is this the start.

EL