yep Pinto you may well be right.But of one thing I am absolutely...

yep Pinto you may well be right.

But of one thing I am absolutely certain, is that at some point, Shell will FIX/swap the exchange rate !

absolutely no doubt.

they will not take an exchange rate risk on the purchase price.
its simply, as you say, picking what currency they will swap into A$ from, AND the timing.

i've got no idea.

But one can be sure, that they would not have swapped/locked-in at the time of the original indicative/non-binding/conditional offer.

it probably would have been done when they got the BOW directors recommendation.

interesting stuff - come on BG