On the 2nd of August, Antares released that they had received a written expression of interest regarding all their acreage of their Eagleford area. This included the Petrohawk Term Assignment consisting of about 9,000 acres.
Now on the 8th of this month at the Good Oil Conference, Antares has released an announcement detailing how they plan to offer for sale their Leaseholds, but no mention of the Petrohawk area. (Personally i feel this announcement on the 8th shows a very professional way of obtaining the best price possible for this asset, and shows that management are more than capable of doing this as has been shown with previous sales of assets over the years)
Anyway getting back to the gist of it, i still feel it was Petrohawk who had made the first offer that we were informed of on the 2nd of August. By James putting the other acreage (that Petrohawk is not involved in) up for what is basically a public auction, he is sure to get the best indicator of what the market will pay for acreage like that. If indeed Petrohawk are after this whole area, then this is the best way to flush out a complete takeover offer for the company. It would then also give a price to buy out San Isidro
Now remember that the directors have alot of options that come into the money if the share price goes above $1.
Anyone who has been watching the share price closely over the last few months will know that games are being played.
I may be way off track with my thinking, but i would certainly love to see a full takeover offer flushed out of the market before the end of November, and feel it could be a real possibility.
Regards to all holders, The Tinhopper
AZZ Price at posting:
44.5¢ Sentiment: Hold Disclosure: Held
