The Comet and Norwich Park blocks are the ones which AOE/BG would be most interested in. -100% ownership is attractive -location in respects to gladstone/competitors tenements. -high reserves from surrounding acreage.
I dont know whether they would be interested in Canaway considering location, infrastructure
And i highly doubt any potential suitor is going to make a t/o offer without verified reserves on these 2 blocks.- so the reserves come in MAY/JUNE 2009, and these are only 3P, saying that it would be hard for a board to justify a t/o based on 3P reserves alone.
will we see a t/o tommorrow? i highly doubt it, great land.. but think - can AOE/BG justify a t/o premium on land alone, history says no. maybe a JV though
BOW AND WCL are definitely the ones to look out for in the future, but to think that BG/AOE are just going to throw money at us due to PES is a remote possibility.
I see WCL the most likely pick-up as the reserves should come out sooner [although you never know] and the land is vastly similar to the location of Comet/Norwich.
WCL;37mil BOW;66mil
I see great things from BOW, but maybe a few extra months away. take from my comments what you will,
my 2cents
I hold: wcl,pes
BOW Price at posting:
40.3¢ Sentiment: None Disclosure: Not Held