Ya I reckon the price paid to Gastar is somewhat irrelevant ... they were distressed and everyone knew it! Otherwise why wouldn't they have waited until 2P reserves are upgraded??
The more important price is what STO paid HGO .. $1.00 ... with a rider to pay any upside within 18 months if STO takes over ESG.
Plenty of upside. Anyone selling today should think about what happened in the QGC takeover (by JV partner BG) and PES (20.1% owned by AOE but taken out by BG).
H
ESG Price at posting:
80.5¢ Sentiment: LT Buy Disclosure: Held