Really likes the following comments from the article. Another...

Really likes the following comments from the article.  Another offer is on the way that's for sure.

The only unknown is when and how much!



In case you missed it, shortly after doing a deal to enter Rough House, Running Foxes decided to lob in a 22c per share deal in for AOW – valuing the company at $A35 million.

This is just speculation on our part of course and there’s been no commentary in the marketplace on this, but given Running Foxes’ interest is in Rough House – does this mean it ascribes $35 million of value to that one project?

If so – that’s a strong indicator of the value experienced oil and gas folks are seeing here, even at such an early stage.

It’s an asset which hasn’t even been drilled yet and just happens to be in a good neighbourhood. That’s it.
In any case, AOW has managed to procure two takeover bids without having any significant production on the books.
That to us smacks of an astute real estate play.

Given the track record of these guys with the bidding war with their previous company Ambassador and now two takeover bids for AOW – we are expecting another all-out bidding war to continue for this company.