I would be very surprised if they pull off a 12% dividend in the coming year... lower oil price, lower LNG and JCC pricing... some large capex projects in the works that they'll want some cash reserve for. But who knows (I hold).
I would think if they merge with/acquire Santos, they'll keep the LNG assets and offshore oil and spin the domestic gas / non-LNG tied onshore business (Cooper) to a more mid-tier Aus company. It would lift Woodtos to a top LNG exporter with much much better LNG trading opportunities (although still a pretty limited global footprint).
Relating it back to IVZ though, I don't think either of the two would be keen to join the party.
Someone get ENI on the phone.
IVZ Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
