I agree with TUI. Easy oil has gone, which is why we are seeing takeovers of mid-caps. From what i remember, XTO had 13tcf(can't remember if 2P or 3P) reserves when Exxon paid $41bn for it. Below article written yesterday highlights the struggles facing big oil:
Hopefully we receive further details on the deal by end of this week, but it's going to take a long time to draw up all the legals. The longer it takes, the more lawyers/advisers will earn in fees.
I had an extreme left field thought. Maybe Shell will come back and offer to swap WPL scrip for AOE. It's worth about $10bn and they seem to be having difficulties getting rid of it. Also offers good tax incentive for us holders.
AOE Price at posting:
$5.03 Sentiment: LT Buy Disclosure: Held
