Sandy, I think we are all working under the assumption is that Outback Energy Hunter will be capitalised with money from Magnum Hunter Resources, the major you seem to want.
As for the original buy-in deal, purchase of shares @25cents and $50 million possible expenditure, it was very fair given its market cap and share price (mid-teens) at the time.
Still think its a good deal for a micro to get to a stage where they have some flowing wells and can found their ongoing share of development costs (assuming they find some worth pursuing).
Anyway, today we might find out whether the deal is going through, or something else has been arranged.
I can't see the logic of your argument to be honest. I one hand you say the deal undervalues the inherent value of AQO (the terms are not good enough) and then turn around and say the rest of us have rose coloured glasses on with regards to the potential (and yes, its only potential at this stage.)
But they own a large acreage in an interesting area, have low market cap and a good buffer of cash. That's why I am invested.
AQO Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
