Its also on the AFR Website now, in the Street Talk Gossips Section ... which is usually very accurate . So I'd be expecting an Announcement next day or so or Friday at the latest. You'd expect this time around they'd have the 2 Majors onboard already at WGO .... then the rest will follow ... and a clause saying the overseas assets of WGO are out.
Kind of makes sense now with the larger than normal selling / transactions going through on STX .. and WGO this past 5 sessions.
At what price the Equity swap will take place is anyone's guess, but it makes perfect sense Not to have WGO and STX selling the same gas into the same Market. Also protects STX from BPT moving in. STX want the Gas for vertical integration ... and complete control on when to bring WE Gas to Market.
Hopefully they time this with a positive Ann on WE4 .. so the dilution in STX is less painful
Ann: West Erregulla Update, page-131
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