Forum Archive Index - April 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

 

Mick,

 

It was never my intention to downgrade your initial advice, remember, we discussed it on April 9 and you thanked me!

 

I did mention that one of the two mentioned, Caltex, would take longer to get approval from the commission and I did say that provided the stations fit in with the existing ones, money would not be a problem.

 

I wondered why there was no follow up to your suggestion that Caltex had bought Challenge petroleum for $ 30 mill.

 

Then Alec came in with the " hard " info. that buying will increase the Caltex share to 24%. That confirmed that the Commission would take some time before giving approval.

 

I came to the conclusion that perhaps Caltex struck a last minute snag with the Commission.

 

Presumably, they may have to discard a station or two as previously discussed. 

 

And that could be the reason why an announcement by Caltex - as suggested by you- was delayed. 

 

And that info. about the distribution led me to say, that " at last, something concrete and of value "!  

     

In other words, it strenghtened your original statements! I suggest you read it that way!

 

Another contributor suggested that RBC would not get the full value back. 

 

I assume that the supply of petrol to the Challenge stations( the feeder lines) will be expensive under Challenge control. Caltex have their own and perhaps could use the depot in Taranaki as well !

 

From one RBC shareholder to another: Good on you Mick!

 

Gerry