MIN offer doesnt stack-up

The Christmas - New Year break gave me the opportunity do undertake plenty of reading and having gone through the MIN offer, the strength of the Watsia asset, the continued upward movement of oil/gas price, the increasing value of stocks on the ASX, ... and it simply doesn't stack-up in favour of shareholders.

I cannot understand why the AWE Board of Directors has recommended the offer when it locks in a price of just 83c.

Have I missed something here?