Takeover Bid Issues, page-7

30d VWAP up to 29/11/17 was $0.534
0.71 is 33% premium

40% premium is 0.75

They are in the ballpark of typical offers

AWE has wasted vast amounts of shareholder funds over the years
But it has realigned itself to onshore which is good
Instead of tilting at windmills offshore
They should get rid of AAL with the rising oil price
Santos wont be interested - noncore for them

Agree that BPT would be a natural acquirer
Give them a much bigger footprint for little outlay
A scrip bid equating to $1/share would do it