Gents - I cannot see any logic for Instos to buy - let me tell u why: 1) AOE most likely to up its PES bid - more cash and/ or more shares - so either way more dilution - if there was no buying for AOE pre BG bid ask yself why now 2) They dont believe Shell will make a bid for AOE - not sure this is the wat Shell operates - it would rather take a stake in projects - tradionally thats how its upstream ops work 3) Shell is only interested in acreage.
That said AOE is well funded with plenty of cash, but with these type of projects that goes super quick. IMO - AOE will up bid for PES, obv a no-brainer. Short sellers will look to put pressure on AOE share price during this perioof uncertainty. AOE needs and really wants PES so it prepared to pay.
AOE Price at posting:
$2.55 Sentiment: Hold Disclosure: Held
