takeover or gsa, page-8

BG I agree with your last comments.

Mitchell could probably do with the cash in his new drilling business and A Karol too has other business interests and his Polo habit to feed. With about 32.5 million shares between them, a bit over 7% of WCL, I'm sure they would be keen on selling soon.

By deduction, Mike Hughes & the rest of the board must want to carry on regardless.

The Chinese Co bid is low ball & very opportunistic. They seem to be related to the previous not so low ball bidders who were related to the mob with an interest in LNG Ltd and the FL project which has been on hold pending a GSA. Surely at some stage, not far off, competition for gas supply capacity, and the pressure of time, will see this Chinese chimera come up with a fair dinkum bid. Even if the gas supply capacity has to be built, as in WCL's case where WCL has had nowhere near the resources required to drill and develop a sustainable production level of 60 tj/day. Whereas WCL has been stuck with about 12 tj/day for some years now, because the flow from new wells hasn't been able to surpass the diminishing flow rates from all the previous wells.