Not sure that they would necessarily make a bid for SXY if their main objective was to squeeze STO into submission, as they could do that by simply increasing their offer, though your idea would make an interesting strategy.
Its hard to second guess Harbour without understanding their strategy or what type of assets (type and stage in development) that they are seeking to acquire. And obviously STOs and SXYs assets are not directly comparable.
But on a reserve basis, their offer does paint an extremely positive picture for SXY. The key to us ever receiving such an offer is simple - achieve the stepped increased in production and earnings that SXY are targeting. We get that right, and I think we would also be saying no to their offer...
As SXY have stated - mid year is when we will see the plan to this stepped increase. It should be an extremely interesting next month...
