what a joke of an article:By James PatonMarch 11 (Bloomberg) --...

what a joke of an article:

By James Paton

March 11 (Bloomberg) -- Arrow Energy Ltd.s 45 percent increase in Sydney trading since the company received a takeover offer from Royal Dutch Shell Plc and PetroChina Co. makes it an opportune time to sell the shares, Fat Prophets said.

The hedge funds that got in will all jump out again if the A$3.3 billion ($3 billion) bid is unsuccessful, Nick Raffan, a Fat Prophets analyst in Sydney, said by telephone today. Hedge funds provide an opportune time to lock in profit.

Brisbane-based Arrow surged to A$5.11 from A$3.48 after the energy explorer said March 8 that Shell and PetroChina had offered A$4.45 a share for its Australian business. Shareholders would also get stock in a new company comprising its international assets, Arrow said.

The shares traded at A$5.06 at 11:05 a.m. in Sydney, up 0.6 percent, compared with a gain of 0.3 percent for the S&P/ASX 200 Index. Thats 45 percent higher than the March 5 closing price.

There is no guarantee the Foreign Investment Review Board would approve the acquisition, Raffan said. The proposal also hinges on support from Arrows largest shareholder, New Hope Corp., which owns almost 17 percent, he said. Arrow would face major hurdles in advancing with the Fishermans Landing gas project in Queensland, especially finding more than A$2 billion in necessary financing, Raffan said.

BHP Billiton Ltd. and Woodside Petroleum Ltd., Australias largest oil and gas producers, may deliver stronger performances this year in Sydney trading, he said.

People who have been in the stock a long time have made a monster profit, said Raffan, who downgraded Arrow Energy in a report today to sell from hold. Do you take that now and invest it, say in Woodside or BHP, to take advantage of the global recovery thats under way, or do you risk it?