Reminds me of recent bid for Adelphi by AWE. Move in AMU's SP...

Reminds me of recent bid for Adelphi by AWE.

Move in AMU's SP 2day was interesting. Hope to see an offer in the coming days.

Shares: 304mil, SP: 0.245c, MCap: 74.48mil,

Cash: A$8.1mil, Debt: US$45.4mil (A$53.4mil @ 85c forex)

EV: A$120.1 mil (i.e, MktCap+Debt-cash)

Reserves: 1P: 7.1 mmboe, 2P: 12.4 mmboe, 3P: 18.71 mmboe
EV/2P: A$9.67/boe

What's more interesting is their 6 yearly turnaround, that has someone interested in AMU.

As per slide 6 frm their Feb presentation at Denver,

Production from 2004 to 2009: +158%, 281038 to 724850 BOE

Revenue: +268%, frm 14.8mil to 54.4mil

Ebitda: +400%, frm 6.2mil to 31mil

Op. cash flow: +492%, frm 5m to 29.6mil

Hope to see who's making the offer, a local or a US based entity.