The powers that be are just positioning themselves and its the short term/short sighted investors giving there shares away to them.
IMO AQO is a screaming buy at these levels.
When they want it to run you will find the SP getting to 30c in a hurry and then climb towards $1 as the cooper basin story grows.
The following was taken from the NSE thread posted yesterday. IT was included I a buy report. It basically says it all.
"The acquisition will see the company enter into the producing oil fields of the Eagle Ford Shale, Texas, while gaining a footprint in the Cooper Basin through a farm-in into PEL 570 with Ambassador Oil and Gas (ASX.AQO). This is a strategic move by the company as PEL 570 is largely regarded as the last remaining substantial opportunity for exposure to not only the Cooper Basin but also the Patachawarra Trough"
"Cooper Basin PEL 570: NSE has also farmed-in on PEL 570 located in the Patchawarra Trough with the primary target being basin centred gas and liquids rich gas. The asset is located adjacent to proven systems (Senex, Drillsearch) and close to existing pipelines and infrastructure. NSE will acquire 52.5% operating working interest from AQO and is required to spend $42.5m over the permits life. Total consideration to acquire the farmin is approximately A$5.0m which includes cash (A$2.6m) and scrip (A$2.4m)"
Tino has shown in the past that he's a very smart and strategic operator. He kept PEL 570 as his baby with the view IMO of setting AQO up and his next SXY.
IMO AQO will be taken out 100% in the years to come.
Cheers
AQO Price at posting:
18.5¢ Sentiment: ST Buy Disclosure: Held
