Way Forward - Vote YES

[kerekesc]

XOM did not come in only because the starter bid had "shareholder support."  It did NOT!  XOM came in because it is in their own economic interest to own IOC in order to expand their LNG plant in the least inexpensive way possible.  Period!  And, as a result, it is in their economic interest to obtain IOC at the lowest price possible.  Oil Search, as many have already stated, is in no financial position to successfully raise their initial bid to compete with XOM.  That only leaves Total.  The only player currently in the game with the financial strength to significantly raise the stakes......but only if it is in their economic interest.  The jolly joker in this deck is the PNG government, and the possible collusion between the two bigs in order to divide the spoils.  In no way should we vote "yes" to the Oil Search opening bid.  Vote "NO"!  With each new and increased bid, more and more shareholders will begin to vote "yes".  Hopefully it will raise the share price to an acceptable level for all.......but I'm not banking on it.  We are minnows in a sea of sharks, and we own a huge, juicy piece of red meat!