is this a good buy at these levels , page-5

Interesting article in The Australian (Business - Energy/Mining section) today, AZA Management obviously does not see it as a $1.20 share but rather above $1.50! Anzon will "restrategise," Mr Strasser said. Link follows:

http://www.theaustralian.news.com.au/story/0,25197,23651060-5005200,00.html

Obviously AZA was not about to be pushed around (re revision to the bid).

In terms of going forward, AZA still holds NXS shares (a significant and valuable stake given the rising NXS sp after the announcement) and Basker-6A surprising on the upside (looks like it was drilling/produced below the crest - very good rate for just 2 zones - compared to the production rates for the other wells in my post below this one - but more importantly IMHO a lower GOR), it still makes for an attractive acquisition for someone with the cash and moxy to make a bid. Particularly if the new predator intends going after NXS afterwards (that has to be NXS Management's second worse nightmare scenario now it has walked away from the bid)!!

Given AZA and AEL were previoulsy keen to merge with someone (given they did put a data room on the market looking for a buyer in the first place that started this thing off), I will continue to assume this is the case until told otherwise by AZA/AEL Management.

I will wait and see where the AZA sp finally ends up over the next few days before committing any funds, although at a closing price yesterday of $1.16 it is still "ridiciously cheap" IMO.

Cheers