1. 673 Posts.
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    I am interested in the views of others on these three points.

    Seeing that the NTA of Australian Oil & Gas (AOG) is currently $2.10, wouldn't it stand to reason that any bidder would have to offer at least this to shareholders?
    Ensign has only offered $1.70.

    The AOG board has stated that fair value in their opinion is closer to $2.50. Given that all the takeovers I've seen on the ASX have offered a premium to shareholders as an enticement to sell, doesn't also stand to reason then that we could expect to see a revised offer in excess of $2.10?

    Finally, with Downer EDI now entering the fray with a 6.8% stake in AOG, can we expect to see some sort of auction to develop which will push the share price up to at least the NTA level in line with any revised offers from Ensign or Downer?

    I hold AOG.
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