Ann: Acquisition of shares by Landbridge Group , page-31

re: Ann: Acquisition of shares by Landbridge ... Good reply there Jake, well done on finding that out. Your thoughts today have been extremely appreciated for my side. It makes me think why has WCL not made it crystal clear that that is the case, I wonder about the advice these guys are getting and mngt ability to promote this coy effectively.

I had a feeling this morning that more buying was coming and that us why WCL released the AK sale forcing L/B hand.
This backs up my thinking on why the people today took the price and have run. Reason being,

1. Mitchell/Skerman agreement talks about immediate $$ settlement.
2. L/B offer was highly conditional, GSA would break a condition so an eventual offer of 36c May nit happen (agree that is unlikely now)
3. What would the payout time of an offer be, 9 to 12 myths I would think with foreign investment approval
(That is a guess)
4. To these big guys I'm guessing money now is better than waiting 9-12 months for potentially another 10-20% (hopefully 50%).

I always wonder when ex directors take money when other directors still say that prices are too low. Obviously there has been a major disagreement at the board level on what the real value is worth in the coy. Time will tell.

I just can't see how an LNG player can let some Chinese mob take the last bit of free gas available even if they are contractual obligated to sell them the gas. I do see how a Chinese mob could become such a pain that people stop wanting to deal with them!

The fact is the L/B is no a major player in WCL and will be the 3rd biggest and possibly second by end of week or even largest if they snare another10% shareholder and will want a board seat. I always thought NH had more than 17.8%! It really means if Energy Trust sells its a done deal. I don't doubt that L/B can be largest shareholder very soon.

I don't believe for a second that New Hope didn't know this was happening and can't believe that they didn't snape up the shares to increase their holding. WCL's 2 operational press releases today seemed rushed and just put out there so they look like they are doing something.

Can't wait to see what happens tomorrow!