The buy-up has seen the stock value leap to $0.15 at the time of print, although Amadeus CEO Geoff Towner is slightly bemused by the sudden boom for the company.

"It has pretty much been business as usual for us, I don't know of anything new that has happened to spur them on. Shaw has been following us for a while so they are familiar with our strategy.

"We are profitable with revenue around $11 million per year and we have got a lot on with a solid base of production. It could be a case of people saying what is out there in the resource sector that is profitable, and we fit the bill," said Towner.

The company has had a run of success in its US Oklahoma prospects with four successive commercial strikes in the Red Creek prospect.

"The area is conservatively producing about 50bopd per well and we have a 60% ownership, and while it is not big if you keep accumulating wells like that over time it becomes quite a nice little earner.

"Red Creek is just the start of the program we don't know exactly how many wells we will drill in the area at the moment. In the next month probably two or three and hopefully eight to ten by the end of the calendar year," said Towner.