in light of the announcements today, I reckon some of the...

in light of the announcements today, I reckon some of the participants have declared their hands.
there are a number of "takeaways" from today.

what AK, NM and Skermans have done, is to absolutely put WCL into play.
I think there is no going back.

some takeaways for me include:
- there is no way L/B will sit on 8.7%. they will want to get to 19.99% if possible
- they want WCL 100%
- they will have difficulty getting more shares now at the bargain price of 35c
- they have approached others in the Top20, and these were the only acceptances
- maybe they will work their way down the list?
- I reckon L/B will lob an on-market bid at around 38c-42c, and see what they get

what will GLNG or Santos do??
I cannot see that GLNG would be happy to watch an inexperienced party like L/B get control of their gas supply.
Whilst L/B-WCL would be required to supply the 65tj/d of gas, who says that L/B would have the experience or technical knowledge to deliver the production required?

So I could envisage a GLNG or Santos bid over the top of L/B.

And the point is that Santos or GLNG would have an expert knowledge of just what a bargain WCL is at these prices.

So it then just becomes a matter of return on investment for someone like Santos. Cut out the middleman, and increase your returns.

We can expect a Bidders Statement from L/B.

I have no understanding as to the progress of the approvals from Chinese Govt.
that was why the Petro bid fell over, because Petro could not get the govt approvals thru. There was change of power in China at the time.

So I am unclear as to whether L/B has now got Chinese govt approval?

anyway, plenty of water to flow under the WCL bridge.

cheers
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