RE:Great newsAgree. Problem is that AOI needs money to develp. At these levels or even at $4, the dilution would be too much. Other financing options may be a possibility but probably tough at the current oil price.
It is a long road and it will take time. Problem is, how will AOI look at the end of this with number of shares outstanding etc. Still think it may be better to sell the whole thing now and salvage something.
CGT is a problem but at a $5 bid there is probably not as much to pay. As far as I can recall, AOI would be able to claim a lot of deductions, so a bid at the lower end may not attract as much tax.