I don't think AOE is in a position to increase its bid for PES from here. AOE's share price is too fragile and any increase in the scrip value of the bid may simply get eroded by further downward pressure on its own share price.
The only way I can see them succesfully increasing the bid is to also annouce the Shell would immediately purchase XX% of the PES tenements acquired for $XX from AOE.
another very good news, they are still sellin , page-5
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