Recent content by Ross Walker

So Dukey, have you sold yet, or still holding? How about you Grace? I may sell my remaining stake on market. Seems BG may have trouble getting 90%. R.

Dukey, I ran a ruler over MEL and, my goodness, you're right; they appear to be a diamond among the rough. Here's my rough valuation: Gas reserves: 2P reserves: 284 Bcf * 1.05 * 0.7 = 208PJ (assumed 70% net to MEL) 3P reserves: 1,460 Bcf * 1.05 * 0.7 = 1073PJ (assumed 70% net to MEL)...

Well, it's only natural that we have some differences in our interpretations of the current situation, but I think we agree on all the 'fundamentals' to a great extent. I have very little criticism of Arrow and greatly admire the vision and 'smarts' of the CEO and directors. I think their...

Yes I agree completely. I noted BOW previously but haven't had a chance to read their announcements yet. I'll take a look at ICN; that's a new one for me. Take a look at their recent presentation: http://imagesignal.comsec.com.au/asxdata/20090226/pdf/00931133.pdf It contains some...

Yes, saw that. I suspect that Arrow has others buying on their behalf, especially when their most recent announcement states "Selling your Pure shares on the ASX provides any shareholder who wants a cash only exit now with a quicker and currently more attractive offer than the BG offer." They...

Speaking about "life after Pure" :) I'll probably move more funds into the CSG sector for the reasons I explained in a previous post. I'm heavily weighted in Arrow already but I think they are still cheap given their international plays so I'll be topping up. I looked at BUL recently after you...

That's an interesting quote basilio. I used similar rationale to buy into both Arrow in June 2004 (at 22 cents) and then Pure in June 2007. Peak Oil will probably require a transition into gas to some extent, and GW will probably require a transition from coal into gas. I passed on the Pure...

The BG bidders statement says that the offer can be withdrawn at any time (upon ASIC ok). So if Arrow do manage to get 50% then withdrawal is a real possibility IMHO. Given that BG can withdraw their offer at any time, I'm sure Arrow can do the same. :(

An interesting item contained in Pure's recent target's statement: If Arrow acquires more than 50% but less than 90% of Pure Shares then: the Pure share price may fall immediately following the end of the Offer Period and it is unlikely that Pure’s share price will contain any takeover...

"The Independent Directors of Pure, who in aggregate have an interest in approximately 12% of Pure Shares, are not intending to accept Arrow’s Offer and have stated that they intend to accept BG’s Offer on 25 February 2009, subject to there being no superior proposal. Pure has also been...

Yes hardyakka, it does pay to read both documents (constitution, and terms and conditions). In the constitution we find: Subclause (a) is as expected, but subclause (b) is most interesting, in that it suggests the directors can decide, at their discretion, not to pay out even the deferred...

Banska bystrica, I thank you for the analysis of BBI you've provided in this thread, but I would suggest you check your pride at the door when responding to posts. You come across as somewhat arrogant and have a tendency to attack posters when a simply rational response would suffice. In post...

According to "BBI EPS Limited: Terms of Exchangeable Preference Shares": If you submit a valid Holder Exchange Notice, the Company may, at its discretion do the following in relation to the EPS which are the subject of your Holder Exchange Notice: • Convert the EPS into Stapled Securities...