Antares receives an offer. Again.

We’ve been here before. A year ago, Antares Energy received an unsolicited bid to purchase its Permian Basin assets for US$300m. After initially accepting the offer, better than expected drilling results on nearby shales convinced the board to reject it and develop its fields independently. We backed that decision and upgraded the stock in Antares upping the ante (Speculative Buy - $0.47). Now, one year on, we find ourselves in the same position. Once again, Antares has received an unsolicited ‘letter of interest’ for US$300m. Once again, the bidder is unknown. And, once again, management is engaging the party to...

We’ve been here before. A year ago, Antares Energy received an unsolicited bid to purchase its Permian Basin assets for US$300m. After initially accepting the offer, better than expected drilling results on nearby shales convinced the board to reject it and develop its fields independently. We backed that decision and upgraded the stock in Antares upping the ante (Speculative Buy - $0.47). Now, one year on, we find ourselves in the same position.

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