We have pondered similarly here.... to make ongoing investment decisions Shell need/want scale. They've got a fair collection of plots and are (so we hear) investing heavily around Dunk and are bringing in a big rig to accelerate progress. Adding OMA and EXR plots to encompass a combination of shallow-ish and deeper terrain across tight sands and deep coals to harness oil condensate and gas would give them a sizeable holding across the Taroom Trough and its periphery.
We all THINK it might go the way of Shell buying us out.....but until/if it happens, we plod along....de-risking as much as possible whilst juggling the reality (for us here at EXR at least- not like cashed up OMA) of very little cash in the coffers.
Shell are VERY aware of what is going on with us and OMA....the question is- do they try and move on us sooner rather than later and take on more risk acquiring us early-ish on the risk scale vs. a potential market fight-out amongst competitor suitors?
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