2nd bidder, page-9

Fingers crossed Stumpy but what would be the point? New hope could just come out and counter and they would get the coy! Maybe somebody trying to get a seat at the table perhaps and have blocking stake?

More likely a second buyer that is buying on behalf of LB without actually buying on their behalf but will fold it into their bid is more likely, not technically legal but we all know this kind of stuff happens.

Something just isn't right and I don't think enough people are asking why, why is it that the board keeps saying how valuable the coy and the gas is, we are so close to LNG plants be operational and yet the board cannot get a single revival bid! Don't forget that everybody has been through the data room. What better way for the middle Cooper Basin guys to have their companies rerated quicker than to spend $200m buy the field and straight away they are considered gas suppliers to LNG. This has definitely been advised to them and nothing. Its clear that the industry does not value the Westside fields as worth their time and money or else somebody would have made a bid, or at least Santos would have signed up to a binding contract with a break clause and would pay for the development of the field up front.

We all sit here a read each others posts about why WCL should be worth more (and Im hoping like hell it is) but where are the bids! The markets determines what the coy is worth and right now its not worth anymore than LB is paying.

But fingers crossed.