" From implementation of the Scheme, Santos will use reasonable endeavours to procure ESG to sell the Newcastle land and, upon completion of the sale, will remit 30.76923077% of the net proceeds of sale (after deduction of related costs) to TRUenergy Subsidiary. This payment will be treated as a further adjustment to the purchase price paid for the Sale Assets by TRUenery Subsidiary. "
So the billion dollar question is ...
Is it possible the reserves are now a let down and the SANTOS deal is now considered a good deal??
"By the skin of our teeth" says David King?
Something I do know all too well is corporate Australia is very risk adverse
But it surprises me Ian does not seem to know what is going on in his own company?? Especially for something as big as selling the NLNG land??
No, it comes back to the SANTOS claim that they will be able to develop the reserves over the next 2 years!!(This is from I.K's mouth) SANTOS have the data and know this (hence the bid) so this follows a very hungry competitor can do the same as SANTOS. ;)
Origin have or had so many of their staff defect to ESG a couple of years back, IMO it would be very easy to have a big reunion and get on with business... :D
ESG Price at posting:
80.0¢ Sentiment: Buy Disclosure: Held
