Petrokazakhstan Inc. Message Board

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Gold/Mining/Energy : Petrokazakhstan Inc.

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To: cooliemon who wrote (1733)	8/16/2001 9:08:25 AM
From: forecaster	Read Replies (1) of 2357

Coolie: Significance of the 98% vote. 1. On July 20, a vote was held on the Change of Control Provision in the Senior Notes. 2. Afterwards, Hurricane's press release stated: "Of the shareholders who voted, over 98% voted in favour of the resolution." 3. Now, this practical unanimity reveals an interesting fact. All shareholders clearly felt that the provision provides an effective protection against a low takeover bid. 4. It appears logical to me, that if a major player or a group of clandestine major players felt strongly otherwise, they would vote against, and would not use the ineffective route of abstention. 5. From this I conclude that: a) another low bid from CAIH is not anymore in the cards. b) the Cathartidae are just naughty pussycats. 6. There is now nothing serious to stop the big institutions from buying into the company and fully participate in the stock appreciation which is guaranteed by both the great fundamentals (EPS=US$2.69) and fabulous exploration prospects (mean reserve potential of 830 million barrels.) All this in a country which had a first half 2001 GDP increase of 14%, and January-July oil production increase of 20%. Forecaster

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