eastern star gas in talks with potential asian, page-87

Hi Buddy,

I now have trouble seeing STO bid for ESG any time before 2014. I have been optimistic about STO nabbing ESG fullysick in the past but they are just like a cat playimg with a mouse. Which is why if Marubeni made Santos a generous buy-out Offer to get rid of them altogether I would be like really supportive.


STO is burdened by its own GLNG backpack and PNG and all the others as well as infill drilling the Cooper into swiss cheese. Of course that S&P still has a negative outlook for them.

STO is a marginal unit itself - great prospects but now at the base of its Everest and having to get GLNG up and running to the top.

Will it be too expensive for them to fully acquire ESG by then anyway after all the Reserves upgrades ?

They have taken more than 18mths so far and done nothing. They have their 2-Train FID for GLNG done without the need for ESG gas. All I can think of is that they need ESG for gas swaps or to supply north for Trains 3,4 Later-On.

It is a terrible puzzle when a big company takes a 20% stake and gets to list ESG as an "Associate" in its accounts yet is prepared to just be satisfied and not do the Takeover which is what the Broker Pundits want for their bonuses.

We should have a Poll - ("STO' could be substituted by one of the "Other Bidders" emerging from their holes)

1. STO Scrip only
2. STO Scrip and Cash
3. STO All Cash
4. STO "Go take a running .... at the Moon" We got Marubeni coming around the corner

I have tried the Poll idea before (6157207) to try and achieve some thought-ordering in This Clinic but it failed. There were no takers. The wiring harness must be frayed.

Like you I pick No 3 - All Cash

STO still likes ESG contibuting its millions to meet its 35% JV obligations and even stumping up its 20% share of the CRs in the past and probaby the really big ones to come.

STO is pulling its weight, doing Just Enough , but not with Passion yet.

I can see that the STO strategists are letting ESG run and wondering whether the burden of LNGN will see DC text DK

"LNGN Runway 14 - 2,500,000,000 Heavy Request Booster Rocket"

DK Reply

"LNGN Runway 14 - Booster Rocket Stockout proceed at own risk"

DC
"LNGN Runway 14 - WTF ! "

DK
"LNGN Runway 14 - Runway 14 is available in 2015 - do you still want2proceed ?
---------------------------
You would think that the ESG management would have hold of that MOU Rabbit and are just about to hold it aloft in the triumph of the Passionates over the Doubters. No Myxo or calici virus on its carcass either.

A MOU morphing into a GSA will explode a sp frenzy

But Our managment have not been to Marketing school and sure dont know How to manage the news flow in their favour.

The Jockey riding the ESG steed of great provenance is, to be kind, a technical person who while being an innovative driller should leave the Communications side to those who can sell the great and marvellous story of ESG. Every successful painting has a story imbedded within it. Look at the great Rembrandts - so much contrast, clarity and astonishing backround detail. ESG could be described as a product of a great artist with all the flowery descriptive elaborations written by a Fine Arts Graduate from one of our best Fringe universities specialising in such talented individuals. The public would flock to buy ESG shares such that the trajectory upwards would be redolent of an Australia Day rocket with a brilliant display to light the night sky. ESG has plenty of such rockets in its prospective order book so lets see some of them.


Cheers