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Antares Energy has sold its Northern Star and Big Star assets in the Permian Basin.

Antares surges on Permian assets sale

Local oil and gas company Antares Energy has sold its two remaining assets in the Permian Basin in Texas to an undisclosed private equity buyer, for about $US250 million ($A360 million).

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Australia
Why does market not reflect the sale price of U$250m? Antares market capital is now just A$65m(=240m sharesxA$0.27). Antares has approximately A$50m debts.

Because the closure of the deals is not assured. Hence the market will only price in a probability (ie. less than 100% of its value) in the meantime.

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Share Transactions

23/05/18
$10k Bought
09/04/18
$422 Bought
09/04/18
$422 Bought
Total value as at the date of the transaction
Source: Morningstar

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