why couldn't AOE simply make a placement of shares to Shell - eg at say $3.00 or $3.50. they can issue up to 15% without s/h approval each year. placement would need to be under FIRB limit of 15%. providing placement price is well above CMV, no one will complain. it would also put a floor under AOE SP. it would then give AOE more cash to fight off BG. if AOE get PES reserves at a reasonable price, it will be value accretive for AOE. cheers
AOE Price at posting:
$2.45 Sentiment: None Disclosure: Held