New bidder enters AWE race, page-52

Waitsia is the prize in Lattice? No newspaper mentioned that prior to CERCG offer for AWE. Always nice to have a little license to support whatever would make a story.
Firstly, Seven Group wouldn’t be excited of being diluted if BPT is to issue shares. Secondly, BPT bankers had comfort of guaranteed gas price contracts between BPT and ORG that allowed the Lattice Energy acquisition to be largely debt funded. To take on AWE would require close to $900m. Look at the sums. Offer of $600m plus AWE debt plus capital requirements. How would BPT banks feel about that.