what is aoe up to?, page-28

Exactly what we talked abt on the w'end.

AOE got A$707.56m from Shell for a 30:10 stake in local:overseas acreage. They perhaps were using this to buy PES at the initial offer of $5.39 for A$670m.

With BG upping the ante for the $124.37m PES shares by $1.01, AOE needs to find that & then beat the bid by another offer. Do they have spare cash or do they go into a group huddle with Shell??

Think BG have been extremely brutal here, they want it. Lot of hurt with Sir Frank Chapman with the Origin deal miss out, but hey there are other smaller offerings to grab & still come up on equal platform with Origin. Now thats a very shrewd bizness brain, IMO.