from an AWE holder's perspective this looks like a really dumb...

from an AWE holder's perspective this looks like a really dumb idea to me, and as indicated by AWE's share price response today it seems other AWE holders may not be very keen either. In my view AWE would be much better off discussing a merger with NZO or perhaps even PPP or giving existing AWE shareholders a dividend. ARQ and AWE look a poor combination for AWE holders, and probably for ARQ holders with a mid-long term investment horizon.