Folks
I have put together a brief summary of recent transactions in the CSG sector in OZ. This makes an interesting reading as to how things could shape up for CTP in time.
2008 Transactions:
1) Feb 08: BG valued QGC's 2P-$1.58/GJ, offers $415m
2) May 08: BG's A$13.5b bid for ORG rejected, 2P-$1.51/GJ,
3) May 08: STO-Petronas deal for a 40% stake, 2P: A$4.91/GJ, Transaction for CSG, A$2.64b + US$500m for GLNG train
4) Jun 08: Shell-AOE, 30% stake, $2.72/GJ, $644m
5) Jun 08: QGC-Roma Petroleum for $47.7m
6) Aug 08: QGC-SHG for $830m, 0.52-0.72c/GJ, apprx. $2.20/share
7) Sep 08: CoP-ORG deal (50% stake), 2P-$4/GJ, 3P-$1.88/GJ, transaction worth A$9.6b
8) Nov 08: BG buys rest of QGC for $5.208b, 2P-$1.98/GJ or $5.45/share
9) Dec 08: AGL buys MPO's Gloucester bsin acreage for A$370m, 3P-46.5c/GJ, 2P- 0.74-0.93c/GJ
10) Dec 08: AGL-SGL, A$171m, 2P-$4.17/mcfe
11) Dec 08: AOE-PES bid for A$673m, 2P-0.38/GJ. (AOE was outbidded by BG on this in Feb 09)
12) Dec 08: BG buys CTP's farmin partner PXA for $18m
13) Feb 09: BG-PES bid, $8/share of A$995m
Company Listings:
Here are the listing dates of some of these companies,
QGC listed on the ASX on 20/8/00,
AOE: 17/8/000
SHG: 3/7/02
RPM: 1995
PES: 12/9/06
CTP: 7/3/06 (mkt cap A$30m)
Other CSG operators left out are BPT, ESG, MEL, BOW, BUL, WCL.
IMO, BG - the cat, is already amongst the pigeons!! The door was left open with the PXA deal & the cat's gotten in.
Interesting 12 months ahead for CTP, IMO.
cheers
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