BT Agree with your idea re AED extracting itself from Puffin.
With Sino the operator, and most of their technical staff transferred to Sino, AED are only a bystander for the Puffin project.
The early retirement of Tregonning may also support the idea that AED may choose a new direction or even cash out as you suggest.
If they could sell their share of Puffin for whatever, pay off the c/notes etc, and come out of it all with $100-150mil "net" cash they'd have a decent warchest.
The idea then would be to windup, or farmin/jv/merge into a "decent" near term development project that needs funding.
That said, I still wouldn't buy them because management are crap, but it would be better than persisting with Puffin.
Will be interesting to see what moves are made after the independent rpt
AED Price at posting:
57.5¢ Sentiment: Sell Disclosure: Not Held
