The t/o price in $US has risen 11% since Eden's offer announced on 21/3/2011. The $A has currently risen 4c. above the $1.05 maximum allowed for in the financing for the T/O (= $12m). + The $6m. dollar tax oversight = $18m. aditional financing to find. I can not see that if Eden have not obtained funding by this date that it will ever gain funding for the deal.
I really wish I had have twigged to all of this 3 weeks ago.
From here I am thinking that the stock should trade at a t/o premium subsequent to the deal being called off - allthough at the current price this does not look like the case.
Its now a matter of looking to AMU's future prospects.
Q4 - Increased earnings (partly mitigated by the 40% hedge collar which remains untill end of June.)
2012 FY - A higher traded share price due to increased increased profits with - the oil price remaining fairly high - only a 20% hedge collar to contend with - further well development and increased product'n.
+ some very healthy dividends + a continuation of the buyback
Thats the best I can wish for now, unless there is a miracle.
GK.
AMU Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
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