the more I think about it, I reckon its Shell coming in with a higher cash offer.
When I posted the question the other day about why we suddenly started hearing from Shaun Scott CEO of AOE, and him stating that a rationalisation of LNG Plant plans would occur in the next quarter or so, and that Shell will build its own LNG trains, then the more I think its SHell on the prowl.
That would make sense why AOE is climbing.
What happens if it is SHell?
Shell already has 14.9% of PES.
AOE stake is about 17% - if AOE accepted it would make big profit as it bought Mathews out at $1.40. The rest was seed capital at what 30c?
So if it sold out to Shell, then it 3p reserves would halve? not good for AOE.
And i guess that would cruel its plans for big supply to other LNG trains - it can still supply LNG Ltd contract.
Its already in bed with Shell anyway.
I reckon, if it is Shell - AOE is (again) a bigger sitting duck.
Also, if AOE sells out of PES, look out for AOE buying BPT Tipton share of permit!
PES
pepper residential securities trust no. 21
