Well Hangas, 2016 is a fair way away....but it means that BPT,...

Well Hangas, 2016 is a fair way away....but it means that BPT, by way of owning the options, have the right but not the obligation to buy 75mil ADE shares at 40 cents a piece on or before the june 30 2016 expiry. If it gets away from BPT (in terms of share price appreciation) then they convert 75 mil options into shares at 40 cents a piece and be happy to take on the majority strategic stake that they want. They will of course be paying 40 cents per share thus $30m for those shares (possibly very cheap at some point between now and then !).
I personally dont see the BPT alliance as a bad thing as some others have suggested (Really, I think is was pretty obvious that was going to happen anyway). The maximum upside may have "possibly" been shaved by a little bit (due to potentially no dutch auction for ADE's shale play) but that isnt to say that this cant be many many multiples of what it currently is IMO.
I like a lot, I hold...this has plenty more to play out yet IMO.
I think its worth considering some of the non-shale plays too as the punter market doesnt seem to be placing much value elsewhere IMO.
all IMO, DYOR of course. Good luck to all