Thanks Jake.Yep agree I think the offer will go higher or...

Thanks Jake.

Yep agree I think the offer will go higher or shareholders will get more one way or another.

I much prefer these things played out in the open. That is, an immediate rejection of the offer as too low.

That way shareholders know exactly where the Board stands.

If the Board accepts the offer as is, shareholders are left with the nagging suspicion the board was not acting in their best interests.

BOW's board and Arrow are too close for my liking. Yesterday's letter made all the right sounds but here's what I'm afraid of:

Assuming BOW has been in discusions with a large potential farminee. Arrow lobs the bid in.

BOW shareholders have no insight into who the potential farminee is and the potential leverage this party can provide BOW.

Arrow and BOW then work through the advantages in the BOW and the farminee joining Arrow's Gladstone project (capacity 16 mtpa).

A deal is struck, farminee teams up with the big guys, secures supply to be developed by a safe pair of hands in Shell.

Retail shareholders sucking their thumbs waiting for the announcement.

BOW accepts modestly upgraded offer, management rolled into the Shell Petrochina fold all in the best interests of shareholders.

A familiar story for most.