I don't think that they are buying for Shell as well, let me tell you.
IMHO they are buying because they know full well that at this offer it is a bargain. And they probably know that someone will come out from left field in the near future with a better offer.
BG is fully cashed up with hoodles of money left over when their offer for Origin was knocked back, and they are signing new deals with China and now with Japan to buy their LNG. So, IMHO they will have to secure more supply for their LNG trains if they want to meet their committments.
And Shell, in previous records, has stuffed up badly on previous occasion. One of them was when they lost the opportunity to get WPL because of their low ball offer.
As such, I am very confident that these banks knows more than us and that they expect to make some very handsome profits from their invetsments in AOE in the near future.
I will continue to hold. Nothing ventured, nothing gained.
Good luck,
Buddy
AOE Price at posting:
$5.07 Sentiment: Hold Disclosure: Held
