bg international offering 6.40 all cash, page-7

WOW!
BG already has 10%
so AOE cannot fulfill its conditions of getting to 90%.
BG conditions are:
50.1%
all cash of $6.40
FIRB approval.

FIRB approval might be an issue?

It can get to 50.1% - if AOE and Shell don't increase. Shell cannot increase unless IT gets FIRB approval too!
But AOE can buy up big.
Shell could fund AOE so AOE can buy the PES shares to thwart BG?

It's a stand-off.
Two HUGE CASHED-UP multinationals fighting over PES - great.

This just proves yet again - that its ALL ABOUT RESERVES, RESERVES, RESERVES !!!!!!