Another thing to consider is the increase in reserves since the deal was announced to execution date. AOE is spending how much on exploration this year 50+ million??
That level of drilling would produce a significant increase in reserves in 4 months.
Shell have no LNG project without AOEs reserves and the acquisition is based on a very attractive rate per GJ even more so when you factor in an increase in reserves.
AOE Price at posting:
$4.78 Sentiment: Hold Disclosure: Held
