I'm inclined to have a foot in both camps here. I love the enthusiasm and technical knowledge shown by some of the posters here, it's most impressive. Having said that, I think the question has to be asked, where would ESG's share price be now if Santos hadn't bought in? No one but Santos management knows their motives for buying in are and it certainly isn't axiomatic that their motives coincide with the interest of those on this forum. Truth is, had they not bought in, ESG's SP would probably still be in the 80s somewhere and the final analysis, the proof of the pudding is in the SP. Given the fact that so much print has been devoted to gas as part of "clean energy" solution, it has become the investment flavour of the month and that means there are enough investors out there who have made themselves ofay enough with gas exploration and infrastructure to make intelligent investment decisions. If this company is as great a thing as we think, why haven't more come on board to drive up the share price????
As a final point, if ESG needs more time to develop its potential resource, 3,4,5 or 6 months, why should any investor allow their money to languish invested in it for that period when we are currently experiencing such an upturn in the market? They can always come back when the development stage looks a bit more promising! These are basic, non-technical, non-specific - general questions, but I think existing shareholders need to ask them as do potential investors, and I think they need to be asked without being treated as heretics.
ESG Price at posting:
$1.01 Sentiment: None Disclosure: Not Held
