Not fiction from AFR's perspective at any rate.A pretty cheesy...

Not fiction from AFR's perspective at any rate.

A pretty cheesy first up offer...but Shell have observed one of the rules of negotiation:

Buyers who start with low offers do better.

Guys, another of the negotiation rules is this:

Sellers who are prepared to accept less, get less!

Hold the line here....it's now time to let the process play out.

We know that Shell haven't started the bidding at their final price and at a mere $0.90 for 2P...that's well short of current valuation metrics.

For mine the 2P metric has got to be between $1.50 and $2.00.

Thinking laterally, a Shell takeout of AOE and BOW would really set them up for the future.

I wouldn't overlook the possibility of picking up the gas in the Gunnedah via ESG. All it requires is a pipeline between Narrabri and Tipton.

With this configuration there's 3 trains spoken for!