the week ahead, page-56

I really think next week will see us approach or break 50 - due to the news flow (your option 2).

Unfortunately, the Jemena deal makes a T/O from STO less likely as STO have a processing plant (which would have been a synergy in the absence of the Jemena transaction). Unless there are termination rights at little cost, the Jemena transaction all but kills STO being interested the way I see it - hence, why I think ID was so eager to get this deal over the line in preference to the financing.

There's also resolution 9 (refer photo below) that we all voted for that ID was also keen to get passed.

No T/O is not a bad thing - so long as ID pulls his finger out and gets on with some drilling - which hopefully we will hear news of next week! I think there is now upside without a T/O provided our management deliver instead of idly twiddling their thumbs and focusing on poison pill strategies to avert T/O interest so they can retain their $850k salary.