Funny how it's all bad news once a board and management endorse an offer. Environment, global economy, increasing government regulation, capital requirements, low permeability in the Bowen, difficulty in valuing early stage pilots blah blah.
Arrow made it a condition that BOW stop drilling because of the poor wet season forecast.
Who is running the company again? How many of BOW's directors are ex-Arrow?
All of them except for the Chairman, Howard Stack. Stack can't see any problem with that in a negotiation.
Stack says the Arrow guys are really good at these deals. Wow, if their that good lucky our guys got us that extra 4 cents.
Shell Petrochina paid 60 cents per GJ for the tenement next door to Blackwater and now their paying less than one fifth of that for BOW's Blackwater tenement's reserves. Huh?
Unsurprisingly, Grant Samuel say its a fair offer. I think they also wrote a IE report for the Manhattan Island indians many years ago.
BOW's board and management are packing their bags and planning holidays.
BOW Price at posting:
$1.49 Sentiment: None Disclosure: Held
