Clearly Petro China can loan them some money ??? :)In any case,...

Clearly Petro China can loan them some money ??? :)

In any case, excellent post there Jake!

Thanks for taking the time to keep us all informed.

This is going to be a bloody battle. Westside has been de-risked significantly. It is an entirely different company to the Westside that was under the Chinese Concentration camp with Petro.

We now have a bankable GSA to a major! To think Petro offered us the equivalent of around 45 cents per share (in today's dilution) - BEFORE THIS GSA!!

Did we cop a dilution and sign this super GSA, just to end up rolling over at 45 cents to "Petro part 2 (L/b)"?

I think not!

Rob is made of tougher stuff than that!

So if we are no longer worth 185 - 200 million (remember we had NO GSA back when Petro put in their fake offer), what are we valued at now??

A 20 year bankable GSA containing the highest long-term GAS prices achieved on the East Coast of Australia!!

Hmmm BOW Energy went for $500,000,000 and frankly, they had a lot less than we do right now! No GAS, No infrastructure and NO provable way of achieving a commercial flow :S:S:S

Is the argument that we now have contracted gas going to scare anyone?

It shouldn't and CERTAINLY wont scare SANTOS nor GLNG nor MITSUI!

Those guys have deep pockets and frankly even if they paid $400,000,000 for us (90 cents per share) -- they are not paying too much -- NO WAY !! Not in a gas shortage market where they can in fact "pocket" those sexy margins from the highest long term gas prices on the east coast of Australia!

As always DYOR, these are just my opinions but there comes a point where the bleeding obvious needs to be spelt out in black and white!

Come on SANTOS!!, GLNG!!, MITSUI!! don't let the Chinese get away with this!

Mitsui of all people know they are better than the people behind this very hostile takeover attempt.

Cheers,