Good deal for long term?Ok, firstly I've been a holder of ADE on...

Good deal for long term?

Ok, firstly I've been a holder of ADE on and off in 2009 and 2010. There had many capital raisings then.

Now they had a SPP at 14c in May or so, but looking at the latest quarterly they had only around $850,000 left, so there was wide spread fears of another possible capital raising, which we ADE holders don't wanna see another one.

Also with regards, to your "effectively killed off any takeover" comment, I think ADE with $850,000 left and excellent assets. Any possible takeover other than ADE (say we use ICN as an example to takeover ADE) would definitely be a low ball offer. So ADE has very little cards to play with to fend off a low ball offer from ICN or any one. Esp. ICN is the sort of company that would offer its worthless scrip for us. With $850,000 we haven't got any choice than accept a low ball offer from ICN or others.

Guys, have you not realized, companies with little cash have no options with a possible "VOLUNTARY ADMINISTRATION".

Look at AED (jokes, not ADE):
http://au.news.yahoo.com/thewest/business/a/-/wa/10043134/aed-oil-calls-in-administrators/

So this deal is the best option as to why, here as follows:
- immediately injects nearly $12m cash into ADE
- with sufficient cash ADE can adequately fund our projects with sound financial position
- removes uncertainty of short term financial position and further capital raisings (again)
- having BPT involved directly with ADE's projects as BPT is a very experienced and leading mid-tier energy company
- boasts our technical position, with a new BPT nominee director (possibly Bobby Kennedy or Reggie Nelson)

So now do you think its negative to have BPT's stake in ADE?

Also I have a feeling that a merger with ADE and SNE can happen (which I strongly support), why?

I think SNE has lots of good projects in the Otway Basin and Gippsland Basin (which some of the shale gas projects there are partnered with BPT anyway). So a merger would likely boast our presence in the shale gas arena with certainty of BPT's technical experience. So is it good for long term?

H3ll yehhh...

I think BPT's control of ADE may also help renegotiate with BUL on the working interest in the Marybourgh Basin. As the US Dept of Energy believes there is good shale gas presence there. So a BPT controlled enlarged ADE-SNE would have larger interest in Marybourgh Basin.