Member Info for gordon1237

Mitch. They only undertook to use best endeavors to complete by then. Looks pretty unlikely it will be finalized this year now. Gla.

Be nice if Joe did that. Probably unlikely as I suspect they deliberately want it vague. Gla.

Definition from Collins dictionary. "If someone has first refusal on something that is being sold or offered, they have the right to decide whether or not to buy it or take it before it is offered to anyone else." Make of that what you will.

Targ. Your option 2 seems very likely, probably with a minimum acceptable bid.
I don't know what it is with Oilex in that they put out ambiguous rns's. This one could be interpreted as anything from loads of bids to no bids. Gla.

Agree Chesh. It would be nice to know the exact meaning of that phrase, which they always make a point if including. Is there a minimum price ? What happens if no bids ?
Also can't understand those who think no bids would be good news. Really ? It would mean potential bidders had looked at the data and said, no not interested. Hardly encouraging.
Oh well, we'll know in due course. Gla.

Exactly Matt. Gspc must want to get this over and done with. If there was a serious bid, doubt they would delay in the hope of a few % more.

You'd imagine all potential players in the industry would know about this from the off, so why wait two months to get involved. Sounds like they could be scratching around to get any actual bids.

Agree Tsbs. Something doesn't quite add up. Gla.

Fair enough guys. As always a range of possible interpretations. No point in banging on about it any more until we know. Good night and good luck.

DF who said anything about making stuff up ? You said if there had been no bids they would have said so. That would definitely put people off. The rns doesn't say that there had definitely been bids. Further potential bids doesn't necessarily been there has been any ACTUAL bids. There may have been but as usual the wording is vague. Gla.

Doubt they would say something that might put potential bidders off. As always the wait goes on.

Unfortunately, Targ they don't have to complete in 90 days. "GSPC has also undertaken to use its best endeavours to complete the sale process within 90 days". Bit of a get out there. I'm trying not to be too pessimistic but this doesn't seem good to me. Hope, Yuri's interpretation is right but doubt we'll get a result this year now.
Not all lth's have the cash or desire to keep topping up indefinitely. Gla.

That's all perfectly possible Yuri, and I really hope you're right. It could also mean there are no bids or only derisory bids. "Further potential bidders" could mean previous potential bids came to nothing. As usual we just don't know. The market will give it's verdict. Gla.

They've had more than two months. Surely that should be enough? This smacks of desperation. The market will give it's verdict tomorrow. No chance of completion within the 90 days now.

For f**** sake. Not good at all. Bound to be a further drop.

Surely, if nothing comes through by morning it means no further extension, which in itself should be good news and hopefully give an sp boost. Atb.

ASX opens at 11pm our time, so something could come through at any time. I think the extension rns came through at about that time. Gla.

There's a nasty leak from a water main around the corner from me. Gla.

No way of knowing Mike. Everything is still possible from triumph to disaster. Feels like squeaky bum time will be Sunday into Monday. If no rns drops saying extension or worse still no bids we can all breathe again. Gla.

Couldn't agree more Mike. Feels like a s**t or bust situation. Gla.