AOE 0.00% $4.68 arrow energy limited

shell money due to arrive late nov

  1. 4,030 Posts.
    AOE has formed a joint venture with the mightly Shell Corp--30% to Shell in the Queensland tenements; 70% to AOE. Funds which are part of the $A1,000 million payment by Shell are due to start arriving around third week of November.

    This will be the equivalent of WPL's JV with Shell et al in the North West Shelf--it is quite dramatic. The potential gas reserves which AOE expext to prove up are nothing less than huge, and will change the whole coal/ gas energy balance of Queensland within three years.

    AOE should complete its pipeline to the east coast of QLD by 2010, and the discounted cash flow from that time is of the order of $8 to $10 per AOE share. Conix
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