eastern star gas in talks with potential asian, page-17

Them's fighting words!

A couple of observations:

- Clearly, these are provocative words

- DC didn't need to say any of this. So it would appear that he wanted to initiate some sort of action, OR

- DC knew that corporate action on ESG was going to be imminient anyway, so is getting on the front foot and getting the price up ahead of a known hostile bid.

- And Santos doesn't approve of LNGN. Well, that is the major news. We have been told that Santos is quite happy for LNGN to proceed and it posed no threat to Santos. It seems it does.

No controlling stake of ESG, you have no say. No seat on the board, no say. No controlling stake of the resource, no say. And non-operator, no say.

And I leave you with this thought... if ESG had only Santos looking at them, why would they provoke Santos in this way, especially before results from Tintsfield are in? These comments are unnecessary.

So what does that suggest to you about the likelihood of a MULTI-PARTY AUCTION? Why provoke a bully, unless you have a big mate there to look after you?

ESG are certainly waving the red flag at the bull. No Bull!

Yaq