strike three, page-2

It's hard to believe the Board/Management allowed this to happen.

One can only assume from managements apathy that Pacific Energy really want a position in Panax as I expect a greater than 70% shortfall which would give them 30% plus of the company.

If it still goes ahead it will be interesting to see how many shortfall shares our "sophisticated investors" take.

It really makes me think they know something we don't.

I could also be completely wrong and the whole thing will fall over.