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31/01/18
19:47
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Originally posted by mutineer
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I doubt that Beach will be a "willing" bidder in this contest. They already have a lot on their plate with the Lattice integration, new management and staff/office consolidation issues, and Waitsia is already 50% BPT (as non-operator). It would need to be a cracking opportunity that they can see from the inside to make them want to take the additional funding risk at this time.
However, they will want the successful bidder to be a competent operator, and this is what may goad them into a bid. If they perceive that they may get an incompetent operator, or one that has plans that differ from their own, they may "reluctantly" be forced to protect their interest with a bid. I expect that they will be doing a lot of homework on those companies already in the race. As a matter of opinion, I suspect that they may be comfortable with Mitsui (long-time participant in Aust oil & gas), but wary of the other two. Anybody else got opinions on them?
mutineer
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Suspect Mitsui will keep AWE largely in tact and treat it as a wholly owned subsidiary separate from its other businesses, so business as usual scenario with the existing management team.