The $1.05 exchange-my reading of the Quarterly makes that seem to be a go/no go decision, and not a repricing option as some posters are musing. (AMU is saying the A$0.33 is fixed). If so, AMU will not be bought out. So keygeo's initial post in this thread is the correct way to be thinking about AMU in my book. On that basis I think the company is looking good, with hopes that it will get better if the workovers and new low risk drilling pans out as hoped. With hedging dropping away and oil not about to tank in the near term courtesy of ongoing uncertainty in the Arab world this should hold up at the current price or thereabouts. Now even if Eden walks away, the bid shows people are interested, and AMU is prepared to sell. A future bid by some other party therefore remains likely should this one fail. I'm thinking these might be worth a bit more of a punt, esp if the price drops a cent or so on Monday.
AMU Price at posting:
26.5¢ Sentiment: LT Buy Disclosure: Held
