sloeb.
Deduct your cash reserves from the market cap. In effect AOE are buying themselves out. I know PES is great value..but no need to overpay. Certify their own reserves...they have 80 000 square kilometers to drill with only 5% certified to date?
I dont mind if we paid 1.4 billion but as long as SHELL stepped in and helped.
efficient market, page-12
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