All I previously read was BOW ASX release of 22 Aug:
"The Board of Bow Energy Limited (ASX:BOW, ?gBow Energy?h) advises that it has received an indicative, non?]binding and conditional proposal (?gProposal?h) from Arrow Energy Holdings Pty Ltd (?gArrow?h). "
BUT - on the Arrow website it says:
"Arrow Energy Holdings Pty Ltd (?gArrow?h) notes the statement this morning by Bow Energy Limited and confirms that it has made a preliminary, indicative and non-binding proposal to Bow Energy. Arrow can confirm it is seeking to acquire all of the issued capital in Bow Energy by way of scheme of arrangement or other agreed structure."
So they have already got to the detail in that they want a Scheme of Arrangement, because they require 100% - and this means that they NEED the Directors recommendation in order to get approval thru.
Note in the Arrow release they use the words "or other agreed structure" !
thats new info?
So to me that is saying even more. Arrow need/want BOW resource because: - next door to Arrow permits - economies of scale - BOW and Arrow have shared geologiical info and drilling results already, so Arrow know the BOW permits - according to Arrow, acquisition of BOW will allow for expansion of Shell proposed LNG trains - and we know that the bigger the train, the more exponentially profitable the project becomes - no problem for offtake of increased LNG production because they have Petrochina as partner.
SO this is again saying that Shell is serious - it just a question of price. They WANT / NEED BOW!
