Mont, don't you sleep? :)Pickard can't really say anything at...

Mont, don't you sleep? :)

Pickard can't really say anything at all for the following reasons:

1. Stating too quickly that the deal will not change will imply the following:
a.) Shell are expecting huge margins from this deal and we're being pitched a low-ball offer
b.) They are endorsing that the resource tax will not stall their plans as they will still receive an acceptable commercial return. This will give the government a reason to hold the super tax rate where it is.

2. If they revise the deal down then:
a.) Opens bid up to more parties
b.) Pushes shareholders on the fence to reject the deal

best strategy for them is to stay silent and let the miners fight for a watered down version of the super tax.

This doesn't really change my dislike of the government & Shell though.