media coverage on nsw and csg, page-12

Yaq,

The maths is simple

90c Cash beats 0.06881 of a falling share price

Santos doesnt have to like it but a 90c cash offer from another entity will cause some short circuits in their Ipads

Surety of Cash versus the Uncertainty of a ratio

Could Santos respond with cash ? Look how clever they have been with this bid , so clever that it is cash flow positive for them with TRU handing over $284M and STO buying their ESG shares when the Kooragang holiday resort is sold

The other party could just offer STO 90c cash and as STO is short of cash, hence its mean scrip bid, they could accept it

I think you are starting to like the Santos. I remember when you loathed them as their squirrel grip made your eyes water. Now you want to send that Squirrel to china town for the Yum Cha

The Trump card in M&A is cash not some percentage of a capex commitment crippled over-reaching domgas company that reckons LNG is the future

Our risk is that if we stay the course with STO we will be the bunnies forking over every year or so until 2015 or more for capital to fund the GLNG blowouts that we are bound to get

If Pluto blew out by a third for well proven technology then what about LNG from CSG still inadequately proven and with no Liquids to cushion the blows of the hyperinflation of technical recovery

Santos has a history of duds as you so rightly have revealed. I dont understand why you are now so firmly in the Camp of the Saints.

I suspect that you are just messing around and trying to deflect me from my grand quest.


Cheers