I agree with Nursery. I think AUT will grow from here on the back of consistent flows and successful frac jobs.
EKA is the more interesting one. I understand that there has been some solid buying by one of the big banks and the company is not sure on who's behalf this buying has been done. I think that either AWE or AUT will have a go at EKA in the next couple of months. I reckon AUT will be the first bidder frankly. As a result EKA represents a fair punt in the short term. I regard EKA getting swallowed as an inevitability.
When is the reserve recalculation due? July I think.
Agentm is on the ball and I wish he was in AUT and EKA at the moment.
AUT Price at posting:
78.5¢ Sentiment: ST Buy Disclosure: Held
