The line that this deal somehow sets Dart up in a cosy relationship with Petrochina should not be trusted. Sounds nice but at the end of the day there is nothing in the deal which cements that relationship and the bigger players will always have more influence in china.
Imo, the minute shareholders approve the deal and it passes with the regulators, then Dart is just one of a dozen smaller players trying to win/ develop PSC's in China. Unlike our board who apparantly answers to Mammon, Petrochina is ulimately governed by the Chinese Central government and every decision they make will be in the interests of China or at least the Chinese elites. Can't see how furthering the interests of an aussie spin off of Arrow (which gave them a cheap deal once) is in the interests of China, whereas they will open the door to Shell if that gets them deals like this one..
AOE Price at posting:
$4.99 Sentiment: Hold Disclosure: Held
