I think once the option is given to them, even TT is being brought out, the new company still need to honor.

BTW - it seems that the BC Montney land is highly sought.

see:

http://business.financialpost.com/2012/12/04/petronas-and-progress-promise-bigger-lng-plant-if-ottawa-approves-6b-takeover/

It makes a lot of sense if what they are after is LNG to be shipped to Asia, since BC is the closest to Asia. However, they already have 1 million acres from Progress, but does not hurt to have 350,000 more.

What do you think about Ottawa's policy that they are inhibiting further buys from state-own entities? What transaction value would be under their raider. They cannot totally prevent Petronas from buying more asset or in fact doing any buying and selling. Otherwise, Petronas cannot even operate its business in Canada. However, they can neither simply allow them to scoop up everything.