Hangas, like 6, I have already stated as much with SNE. Not in...

Hangas, like 6, I have already stated as much with SNE. Not in our favour and I agree the economics are not there.

I have already stated they have also consolidated shares 30 to 1 in the past which is not a good omen.

Agree wholeheartedly with 6, SNE are not in ADEs favour.

So then why even consider it?

This is BPT tying up the acreage in Otway...pure and simple, as well as consolidating Cooper with ADE. All in BPTs favour.

ADE is now a long term play and short to mid term, I doubt very much the multibagger we had all hoped.

My guess is that once BPT find a big player to JV the Cooper Basin, they will make full takeover play on ADE. In the meantime, they are just cementing ownership in 2 areas.

I believe short term there are better plays out there.

amok