Ann: Arrow Recommends Acquisition By Shell / Petr, page-18

re: Ann: AOE: Arrow Recommends Acquisition By... AOE was going to have to raise 2billion to fund FL. With a market cap of under 4bill, this was deemed less desirable than selling at below "fair value".

There is no way a new entity of AOEI, AZO and BOW would have a market cap near AOE's in order to facilitate the FL development.

I just can't see this happening.

AOE need a new bid.
BOW needs to continue proving up reserves. It is small enough to have multiple "natural" buyers.

That is the beauty of BOW....no strings attached, 100% independent and own all of their blocks.


It would shock me if there were no other bidders.