street talk afr-rival bid coming, page-24

If you think AOE is undervalued now then there is little to fear medium term and only plenty of upside.

Best to turn down the volume for there will be more of this negative stuff printed without foundation.

3690 pj of 2p = $7.3 billion at a discounted $2 a gj..BG, Conoco Phillips, Santos paid more than that.

The electricity generators are worth $700 million at least

The contingent gas?? Whoever wants it gets something like 60 tcf free.

And the international business, apparantly shell isn't after that yet..so leave it out, but really it is a factor to value in from our point of view.

2p gas plus generators = $8 billion for conservative value imo.

And where is the market cap now? $3.8 b .. We could be as much as 100% under the money here and yet there are those worried it could go back to $4.. 25% of risk with the NTA backing it up that it will climb again anyway..

There will be more negative spin however, because the stakes are huge and the potential savings are enormous if the final bidder or someone who wants a seat at the table can create uncertainty at this time.