sale, page-23

IMO its just a matter of time before we see a big rush of T/O or merger in the oil/gas sector. Why waste millions $$$ drilling in the hope of finding oil/gas when you can take over companies with proven reserves and cash flow, very cheaply. This situation comes about because the ASX/Australian investors refuse to give fair value to so many oil/gas companies which are "out of fashion" at the present time. A company estimated what it wanted from AZZ was worth $300.million, AZZ now says recent results indicate that the price offered was too low. Is the bidder still interested, who are the other companies reported to be interested? May not be over yet. Possible T/O USA AZZ,SSN,LNR in OZ its the Cooper with DLS,SXY,STX just a few of the possible targets. Just check history it has all happened before due to a similar situation. The last time there was panic T/O in the oil/gas sector was 1996. Macquarie Equities stated at that time there had been so many T/O in the oil/gas sector "There is not much left to buy"