Hi septic1 - Fair point, I guess it depends on what you think of...

Hi septic1 - Fair point, I guess it depends on what you think of as being an inflated base price.

I'm just guessing that they will want to strike before the market starts to value NMS more highly.

Not suggesting that the market is going to suddenly rerate NMS, but O&G is still a good industry to be in and NMS near-death experience should make it stronger. It appears to have at least expressed a more rational sense of direction and strategy.

Not thinking that any T/O is going to be at some fantastic price, or even that it is necesarily imminent - just appears to be logical - why save a dying business and get on the board and help get the thing running properly and not take it over?

Anyway, who knows - maybe they are happy with just a fifth of it - but there's certainly a persistent bit of volume with a few large parcels moving.