Ann: Proposal received from Northern Gulf Petroleum, page-2

What I read is that Northern Gulf Petroleum wants to purchase a partial stake of TAP to increase their holdings to 35-45% of TAP at a price between 10-11c in order to counter Risco's 9.1c complete takeover of the company. They do not want the entire company and not even a controlling stake, possibly because Risco has a substantial stake.

I am sensing that Risco and NGP want to take out the other shareholders and split the company between themselves. They know this company is worth more than what it is now, naturally.

I like how they are tiptoeing on eggshells to try to take the smaller shareholders out, without making big offers. They know how tired the smaller shareholders have been about the stock price scraping the bottom and so they want to have it all to themselves for as low a price as possible.

Almost playing out like AGO right now.