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15/08/11
15:33
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Or you can buy SNE for a potentially cheaper way into ADE. SNE market cap is approx $19 million with the top five shareholders holding 80 %.
Beach has 57 %
10 million in bank and no debt.
6 or so major tenements for shale ,oil and gas. Some very exciting prospects if you go by the latest SNE presentations.
Expect big premium for SNE than just 14.5 cents. Id say 1.5 ADE shares for 1 SNE. This values SNE at 22 cents at today's ADE price.
SNE has been undervalued for a long time primarily because it's held so tight.
DYOR
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