anzon merger over, page-5

bandicoot, I assume your referring to NXS as possible AZA bidder. I was keen on idea opriginally but only lukewarm now. In my opinion NXS has huge upside and is being held back at moment by uncertainty re AZA merger/possible manipulation, just want issue resolved and out of the way one way or another. I think NXS doing a share swap of crossholdings now very unlikely due to difference in AZA/NXS share prices at moment. If they don't make a merger offer, I think they'll just let their AZA shareholdings roll over into ARQ and look at realising capital tied up there when ARQ share price recovers.
An advantage for making a merger offer is fact that BMG fields look likely to extend into NXS permits. Think NXS will be drilling them later this year. In event of discovery there, they would have to negotiate with BMG owners BPT/AZA. I'm sure NXS would rather just negotiate with BPT rather than AZA in view of past hostility between their two boards. If your an oil bull and expecting higher prices later this year like me, BMG oil production does look like a nice assett to acquire. BMG drilling later this year looks likely to increase reserves. watching with interest.