KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: pete meyer who started this subject	2/13/2001 5:11:58 AM
From: Bearcatbob	Read Replies (1) of 15703

Dear Mr. Berkley - I believe you owe the Hunts an apology! As a shareholder I request that you apologize (reference below) to Hunt and allow them access to the Data Room(s). By your acceptance in glowing terms the $11.40 offer from Anadarko I find it difficult to find much fault with the Hunt offer - it was clearly in the proper and correct ball park. If the Hunts can see $10.50 in the public data one can only wonder what little more was in the glory of the details. So, if the details are only worth C$.90 per share what is the big secret. Let Hunt see the data. Perhaps they can have more imagination than Anadarko - or perhaps they could force Andarko to bid something other than the MINIMUM that the board will endorse. However, if the BOD did a great job in maximizing the value of Berkley - the Hunt's truly deserve credit for their bid since it revealed that the actual market value of the company. Clearly, they must have made a very fair bid - since only public data was available and their valuation was so close to the best the BOD could get. Bob ******************************************************** BERKLEY PETROLEUM CORP ("BKP-T") - Rejects Marginally Improved Unsolicited Offer From Hunt Oil The Special Committee of Directors of Berkley Petroleum Corp. announces that it has rejected the marginally improved unsolicited offer from Hunt Oil Canadian Acquisition II Corporation announced earlier tonight. The new offer is to acquire all of Berkley's common shares at a price of Cdn. $10.50 per share and expires on February 15, 2001. The Special Committee will be communicating with Michael L. Rose, President and Chief Executive Officer of Berkley stated, "Hunt Oil is moving in the right direction, but in the wrong magnitude. Hunt realized that it was holding a losing hand with its original offer and this one is little better. With yesterday's announcement of the timeline for bids, we have now fired the starting pistol for interested parties to bring forward their acquisition proposals. We will be requesting bids very shortly and the auction will conclude by February 15th." ............

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