"We just need to get this garbgae gone so they can get on with drilling asap ."
That is the problem at the moment. The awe fiasco is governing the SP of all three whereas it should be the potential of the oil and gas field.
ADI have used the current proven value of the project to have an independent valuation that says 60c. Allow some value on the potential of future exploration and the value for ADI must be in excess of 80c share. If the field is proven then the value must be in dollars not cents.
Therefore any current offer should be in excess of $1 to be reasonable, especially with the potential for taxes from any gains being immediately due in one hit.
The only way to avoid expensive tax is for awe to offer a share exchange.AWE are currently at $2 and with ADI valued at 60c but selling at4.2c I'd say that a 1 for offer would be reasonable.
It is also reasonable to hold out for $1 without any script offer.
So I still say "reject any offer under $1".
ADI Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held