Prognosis from my point of view.
BCP's objective is to acquire physical oil at cost of production. To do this, they must acquire 100%, otherwise they would have to buy their allocation at market.
Next course of action
BCP now have the option of mopping up a max of 3% of remaining shares over every 6 months. They may approach recalcitrant long-term holder(s) and make them an offer they can't refuse. This will facilitate their exit (can't stick around this bourse - they don't like the 3% creep rule or probably many of our others like disadvantaging minority s.h. rule)
They will then carry off the last few remaining hardliners to the Thaiger Shark's feeding grounds.
I am now sitting on my deckchair on the headland of FIDO Bay and the waters are now dead calm. But there is a rumour in the dreamtime that now the the Thaiger had feasted on the DOG he may get an appetite of OTTERS. I have told them they must be really dreaming - a dog in the water is a sitting target, well.... an otter is just about the hardest.
NDO Price at posting:
5.0¢ Sentiment: Sell Disclosure: Not Held
