Sounds like they are setting up a vehicle for Magnum Hunter to invest in a range of Australian acreage, not just AQO. Sounds like a smart way to do it, rather than creating too much excitement (i.e. about in international trying to buy land) around assets they might be trying to acquire (include those other than AQO).
Strange, given the potential number involved, that a takeover was considered. Maybe they realised they'd end up chasing a moving target.
I am still happy with the deal. If it doesn't turn out we still have 20 TCF of GIP, $8 million in the bank and improving results in Northern Cooper, and Cooper more generally. Another thing, at least AQO is on the radar again.
AQO Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
