I agree Kerry. But here's what we need to be concerned with as FNC shareholders. What is an acceptable buyout price for Smith and Sheridan? This is what i'm most concerned with becuase who know's how many deals and offers have been proposed, but where we have been left in the dark. Cliffs made an earlier offer for KWG and Spider but it is only now that we are hearing about it because the board rejected their earlier offer.

In our case, a company who gets shut out by Smith will not have the option of putting the deal forward to the shareholders because Smith and Sheridan are the largest holders. The question becomes will Smith allow for a reasonable deal to take place or is he going to drive people away with unreasonable bargaining expectations. Will it be 3, 5, 10 bucks?? Obviously we have great assests now and the upcoming resumption of drilling at C1 is going to be very interesting (I have a great feeling about it) so we'll see if a buyout will be in our cards.

Regardless, i think the point needs to be on what Smith will consider fair value because it's not like retail has any say in the matter...IMO.

What's the word on Magpie- anyone? All that chatter has suddenly disappeared!

GLA

Eudaimonia