Mikrokosmos, yes you are correct to my knowledge that PDN needs...

Mikrokosmos, yes you are correct to my knowledge that PDN needs 90% to takeover.

I have just had a quick look back through whom PDN have used before and I couldnt find DB. So I would assume they are acting independently, but it may be just a takeover arbitage, ie they will get PDN to go up a couple of percent for their holdings. Doesnt sounds much, but if they own enough a couple of percent can add up. Also its a relatively safe play as with PDN rising it lifts the value of NGM.

I agree that I think the offer is too low, but at this stage of drilling I would be surprised to see a new player enter. Hopefully Im wrong.