I would be another who would not be selling all of his shares at a 5$ takeout price (even though it would be tempting based on the current price).

Sure they can make an offer but remember what the potential value of the combined plays could be if the results pan out. Potential estimates early on were up to 200 NOK with 40 NOK/share given by Pareto assuming we can recover what is now known to be in the ground. I am by no means saying that these are realistic targets, but they were given before the economic meltdown and the crash in oil and Natural gas prices. It would be a sin to have the company taken out before new estimates on the value of the shares are known (this will not only include the natural gas producing values but also the land values which should increase substantially in value once full scale production is online in Quebec).

Also, remember that a pp was done at 4.70$ - (oversubcribed), once again pointing that management would probably not accept such an offer. I know that for some investors, a 300% premium from current prices, would jump at the opportunity to sell. Management is not in it for the quick buck but a solid stellar return keeping in mind the interest of shareholders (hence the poison pill).

Johnyboy