although some companies may do a takeover before reserves are...

although some companies may do a takeover before reserves are proved, there are other large companies that seem to prefer to pay a bit extra as long as the risk has been significantly decreased

this is what occured between BG and PES. PES drilled up significant reserves, then AOE then BG came in with offers. i was looking at PES when it went from $1.00 to $1.20, but unfortunately i did not act upon it

they could have made offers beforehand to get PES much cheaper, but they would have been carrying extra risk

likewise now, MEO may be looked at carefully by other large multinationals who wish to increase reserves, but any offers i would think would come after Artemis is drilled and offcourse depending on the results