what does esg's behaviour suggest to you?, page-12

Interesting how the shorters are not prepared to jump in and hammer the price... It appears that they do not want to be 'caught short' at this particular time, despite markets turning red.

Could it just be that there is a major MOU in the wings...? And could it just be that when the next major MOU is signed, that would be a catalyst for corporate action?

It is one thing for Santos to turn the other check when ESG looks to sell 7% of their 3P+3C. It is quite another for ESG to get a major offtake partner on board for a much greater percentage of their resource.

It seems to me that a major player like Hitachi-Toyo would not be bothered takling with ESG unless they were confident of ESG's LNG project going ahead - that is, ESG must have a major offtake partner and financier lined up.

While Santos' price is testing its year-low closing price, ESG is holding up suspiciously well.

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