JakeInteresting article. Yes its hard to figure what Shell would...

Jake

Interesting article. Yes its hard to figure what Shell would be thinking. It has a good working relationship with AOE and may not want to move on it .. but .. if BG and others are circling (and they have moved on QGC and now PES) then ultimately it may be in shell’s interests to take out AOE before someone else does.

Just as likely is that Shell would sit back and then make a knockout counter-bid if anyone else moves on AOE. Without AOE’s gas Shell doesn’t have a presence and it seems to want one. Can’t help but feel that if PES is SO attractive then AOE has to be too .. with the biggest CSG acreage in QLD.

H