the "how much" guessing game, page-13

the independent valuation is what i am interested in..

i cant see the valuation coming in at 100 cents... and that would be why awe is striking right now, there isnt enough data to sustain a price like that right now.. in the future yes, but too early to call those figures,, i would be expecting it to be far better than the awe offer posted thus far..

imho its not just a case of the BOD not liking the take over and making up a pie in the sky figure that no one can believe, the BOD will have to run with recommendations following whatever valuation comes through from the "Adelphi Target Statement (which will include recommendations from the Adelphi Directors as well as an Independent Experts Report)"

AWE is positioning itself now where the results so far justify clearly to its own shareholders there is considerable merit to strike now on yemen and sugarkane.. as the results from hilcorp on these completed wells are very very prospective.. they are making a solid tactical business move and clearly know that current valuations will of course be a lot harder for ADI to bring forward without the stabilised flow rates from morgan and rancho.. morgan has already been the biggest oil producing well in texas onshore for a number of days and rancho could be a monster.. AWE needed to strike now before the upcoming results from the two latest wells come through and reserves estimates comes through on the back of those stabilised flow rates (which imho hold a lot of potential upside to the adi share)

"PriceWaterhouseCoopers Securities Ltd has been appointed to the role of Independent Expert; and RISC Pty Ltd, an independent technical specialist, has been engaged to provide a technical valuation of Adelphis assets, in particular the Sugarloaf Project."


RISC has some experience. iam pretty interested in their opinion myself.

from their website

VALUATIONS & TRANSACTION SUPPORT

RISC has built its experience in Valuations & Transaction Support by participating in the following assignments:

*Technical and commercial due diligence services to CNOOC International on successful acquisition of interests in the Tangguh (Indonesia) and NWS (Australia) LNG Projects.
*Lead adviser providing technical & commercial due diligence for two major CSG to LNG project Australia and acquisition of properties with CSG to LNG potential.
*Technical and commercial due diligence support for potential buyers of Delhi Petroleums Cooper Basin oil and gas fields, onshore Australia.
*Technical and commercial due diligence support for the acquisition of a coal seam gas project, onshore China in the pilot test phase.
*Gas market analyses and advice to potential purchasers of Dukes and Epic Energys Australian gas infrastructure assets.
*In-house co-ordination of technical studies and provision of commercial support for the negotiation of a buy-back contract in Iraq.
*Independent valuation, sale strategy & data room mgmt: divestment of interest in the Malaysia PM3 PSC.
*Information Memorandum and data room management for BPs divestment of the Malaysia‑Thailand Joint. Dev. Area Block A-18.
*Information Memorandum support and data room management for divestment of Interros interests in the giant Kovytka and Verkhnechonsk gas and oil fields in Russias Irkutsk region.
*Independent review of exploration assets in San Joaquin, USA.
*Valuation of global exploration and appraisal assets for a major UK independent.
*Technical due diligence for buyer of interest in the oil rim of large gas field in Philippines.
*Independent review of FPSO development for financing & potential IPO on behalf of joint venture partner.
*Technical and commercial evaluation for acquisition of Repsols interest in Jambi Merang PSC (Indonesia).
*Technical and commercial evaluation of Devon Energy Corporations interests in Jabung, South Jambi B, Bangko, Tuban, Salawati Island, Salawati Basin PSCs (Indonesia).
*Independent technical and commercial evaluation of a companys exploration and production assets held in Sudan, Ghana, Senegal, Cote dIvoire, Tunisia and Egypt.
*Technical assessment of Devon Energys assets in West Africa in support of a bid for acquisition of the assets.
*Valuation of the global exploration and appraisal assets of a major UK independent with significant assets in West Africa.
*Valuation of Devon Energys assets in Egypt in support of a competitive bid for acquisition of the assets.
*Independent valuation of an LNG project in Qatar for acquisition of an equity interest by an Asian NOC.
*Independent Valuation of Chevrons sale of PNG assets, including, reserves/costs, financial modelling and a review of the PNG gas project.
*Assisted OMV Australia Ltd in respect of its divestment of interests in the Timor Sea.
*Lead advisor to Toyota Tsusho in respect of its acquisition of an interest in T/18P in Australia.
*Advised Horizon Oil during divestment of interests in PNG to Talisman Energy Inc.
*Advised Venture Production in respect of its defence document in response to Centricas takeover offer in UK.
*Services for IPIC in relation to acquiring an interest in a major upstream oil and gas proposed LNG project (technical and economic due diligence).
*Lead advisor to Petroleum Brunei in respect of an undisclosed acquisition opportunity.


early days here imho..

looking forward to what they come up with between them all