Hi mm55,I see a takeover as a credible possibility.Arrow making...

Hi mm55,

I see a takeover as a credible possibility.

Arrow making an offer at some point would be my expectation regardless. To make it value adding for AOE they need to get PES methane cheaper than they sold their own to EIV.

Why not at the start instead of a PES IPO? My guess is the founders of PES wanted to "do their own thing".

Since the IPO plan was hatched csm has taken off, and a future take out must be looking increasingly ominously expensive for AOE, as during this time PES's acreage has gone from "just another unmarketable csm resource that wont survive the png pipeline" to prime methane molecules for export.

On the other hand everyone has their price, and I am sure the folk running PES have their price, perhaps just to give up the QLD acreage, and focus on Tasy.

All speculation, but the odds are against an independent PES lasting long in QLD, in the path of the AOE juganaut, imho.

EL