Market update: Today Arrow accepted BG's offer of $8.25 per share for PES.
PES has had a whopping 725% increase from Oct/Nov 08 when it was just a dollar.
'ARROW ENERGY ACCEPTS BG’S OFFER FOR PURE ENERGY Arrow Energy Limited (“Arrow”) advises that it has accepted last night BG International (AUS) Pty Ltd’s (“BG”) offer for all of the Pure Energy Resources Limited (“Pure”) shares it owns.
As Arrow’s acceptance will take BG’s ownership interest in Pure to over 90%, BG’s additional conditional payment of $0.25 per share (taking total consideration payable by BG to $8.25 per share) will now be received by all shareholders who have accepted BG’s offer'.
BEFORE SOME OF YOU GET ON YA HORSES - I know the MAE & PES different gas plays and are chalk and cheese. But it only illustrates that even in this depresed market hugh profits can still be made.
I just hope every MAE holder shares the same optimism that I do and that somthing very special is about to happen.
I have every faith in JC (the wily ol bugga) to pull off a ripper deal for us all.
Stay tuned...
MAE Price at posting:
38.0¢ Sentiment: ST Buy Disclosure: Held
