2nd bidder, page-25

I sold my 700k of shares today at 40.5c after reading wcl second target statement.

it seems to me the company (read new hope) is hell bent on remaining independent and has probably set the bar too high for an agreed merger/ takeover. So forget a second bidder, but rather expect the bid price to be just above LB offer price of 40c right up to the close of the offer. This is to prevent LB getting shares on market and to deter shareholders accepting the bid off market.

I am anticipating the share price to drift lower after the failed takeover and for it to recover and go on to make new highs once the wells start to produce. This may take three months or so and I hope to get back in during this time. We can also expect another takeover attempt during this time and probably a competitive one as the players will have more confidence in the fields ability to produce.

just thoughts and door.