No - I still stand by my statement in saying that the "downside is limited" at $5.10.
I wasn't referring to the SP on a minute by minute basis... instead referring to the value of the assets that you are receiving for your $5.10 vs. the risk of those assets disappearing.
(1) $4.70 cash - this may evaporate if Shell walk away or FIRB doesn't go through. I don't think Shell will walk away. FIRB - who knows. But if you look at the announcement yesterday re the $80 billion LNG deal I think this is pretty safe - either as cash or the assets themselves.
(2) AOEI - implying a value of $0.40 given (1). This must represent value given the assets included and macro outlook.
I still stand by my statement that downside risk is limited and people should hold firm until the final whistle is blown.
Cheers John
AOE Price at posting:
$4.98 Sentiment: Hold Disclosure: Held
