bidders statement, page-13

dazzler

i consider the timing a key indicator of how good this share can get, and indeed how good the entire jvp will get

AWE knew that hartleys were not able to do any broker reports post the cap raising, so in that void of time they struck.

with that they have the advantage of there being that envelope of time with no news, until rancho grande came online..

imho rancho grande will hold some pretty spectacular news, hilcorp is improving each and every completion, so much so that morgan was the top producing oil well in texas for a number of days..

you cant tell me that with that type of performance that AWE is going to see this as perfect opportunity to strike..

2 brokers had already put price targets on AUT at 100 cents.. harleys pre CAP raising target of .47 for adi was obviously going to be the next stop for adi.. and add in a mini GFC to the equation and your low ball bid is well timed and executed

AWE desperately need to get this away before the jvp runs again.. and pretty soon that rancho result could be a decisive problem, as when shareholders get wind of how spectacular the morgan well is, and how encouraging these wells are without a production liner in place.. i think AWE needs to seriously rethink some strategy here..


ADI holders endured a lot winter during the oil price fall post the GFC 1.. and in october last year the share woke up with a partner and now 7 months later spectacular progress, with hilcorp on the helm.. and ADI holders imho were about to achieve some serious upside for their long patience..

i am not a fan of the AWE tactic. and dont agree better value for adi cannot be achieved in the coming weeks and months as the forward well program gets into full swing..

opportunistic timing but imho a poor result for shareholders if taken up.. adi was in a pretty grand position for the next stages ahead imho..

i am buying more myself as i think this offer is never going o see the light of day