re: Ann: PES: AOE Increased Unconditional Off... PES has about...

re: Ann: PES: AOE Increased Unconditional Off... PES has about 92million shares listed I think -

With an extra third of an AOE share in the new offer - minus AOE holdings of 19% its about 25million more new shares to be issued if maths is right... Overall with cash component its 473 million total in cost to AOE in the new offer. Wasn't sure how to account for options if anyone can advise.

Also note Shell own 15% of PES since october 07... So some money going in circles there too.

Its a confident move and obviously valuable to them...

also note PES holds royalty rights over tipon west and other farm in contracts so it would amount to some future savings there of tens of millions per year.