A big driver for AWE to acquire ADI (aside from the value of the reserves) was technology leverage ie they wish to learn as much as possible and apply that knowledge in Australia.
You would think for that for any big player with desire to develop shale gas/oil through hydraulic fracturing - whether in the US or elsewhere - that acquiring EKA or AUT would be a smart and cheap way of gaining an insight into how wells are successfully drilled and fracced - since Hillcorp seem to be leaders at this.
The prize of being able to apply technology and develop these shales all over the world makes the cost of grabbing these Aussie companies insanely cheap.
Thats what I would be doing and Im a PE.
Ann: Investor Presentation Material , page-82
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