Ann: Form 604 from BPT , page-22

Hi guys,

I'm now out too. I think that had the fairway been dry and the exploration programme under way, 8.5c would have been a joke. However, in all reality, there's little prospect of any drilling or production activity now for quite some time to come (see C&P from the Bureau of Meteorology below -- from Tuesday this week -- "MJO" = Madden Julian Oscillation).

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>>"The majority of computer models surveyed are now hinting at the redevelopment of an MJO over the eastern Indian Ocean over the coming 2 weeks. If the scenario pans out, this will have far reaching implications on Australias weather during December.

With the MJO active in Australian longitudes, the potential for tropical cyclogenesis in the eastern Indian Ocean will increase significantly over the next week, with the moderate-to-high risk extending eastwards during the second half of December. With eastward propagation of the MJO, northern Australia is expected to experience enhanced rainfall during the second half of December.

The probability of Australian Monsoon onset prior to Christmas across northern Australia is now considered high, with some indications that it may arrive as early as next week."
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Also, acceptances are still slowly coming in and BPT only need another 45m shares or so now to get control of ITC. And there's always the risk that for whatever reason, they might decide to call it quits at some stage and small shareholders may risk falling between the cracks between VPE and BPT as major shareholders at loggerheads with each other.

So I've taken the certainty of 8.5c cash in the hand. Must admit I hovered over that "confirm" button for quite a while before I finally clicked on it. Sad to see her go, even if out at 50% above cost. Bloody rain...!