takeover, page-5

I have already divested a fair portion (~60%) of my holding into BOW and AOE at around the PES 6.50 mark, which so far, seems to be working pretty well for me even though I missed out on the higher bids on PES.

At this point in time I think I am going to take a risk (for the reasons I listed above) as I think there is something else going on.

Can you really see BG saying 'the 23 Mar was our final offer and it is now closed, walk away small holders, hedge funds and arrow, we are not interested in you and we dont know why we bid 1 billion dollars for your worthless company and upped our bid at every turn? in fact we only started bidding as our friend said he would eat a whole tub of vegemite if we could do it. I guess he will now live a happy life and not suffer the resulting salt induced coma one would experience after eating so much vegemite'?

Well maybe the bit about the vegemite is a bit far fetched but you catch my drift.

Worst case, I will still hold shares in a company that will be driven by two majors who will be keen to extract the several thousand PJs from it permits.

The most baffling thing of all of this is why Shell has sided with BG??? Could be a few more twists to come perhaps.

SF