As the days pass, more & more O/S players are making bid's for Aussie companies with Leightons being the latest today.
It appears that when they see compelling value, coupled with a depressed AUD (hence making US or EUR funds more valuable) they are pulling the trigger.
I'm not saying it's a certainty, however given Yeager's US connections in the O&G industry & the fact that MAD is ridiculously undervalued on a reserves basis, corporate action would not surprise me on this one!
In pure speculation mode now, however if we were to receive an all-cash bid, I would expect the 1st bid to be 55-60c and then I would expect a bidding war to break out as 192M 2P PURE OIL reserves are not easy to come by & would be a nice bolt-on to many many companies.
FDM Price at posting:
35.7¢ Sentiment: LT Buy Disclosure: Held
