an unpopular dose of industry perspective, page-10

Hi Yaq,

Love your posts, and continue to do so, as they are thought provking.

I agree with you whole heartedly about the price of the 3P reserves.

As others have mentioned, the rate of $0.50 is acceptable, but the reserves is the missing peice to share holder wealth that we have waited for - and financed for - the past 18 months. Therefore the expected upcoming reserves upgrade - that DC has been on record as saying as "massive" - are OURS not STOs.

Also, what's your opinion on STO not considering any 3C reserves in its offer to ESG - yet STO boasted about its 3C gas reserves in the Gunnedah basin (subject to successful takeover of ESG) in its Eastern Seaboard presentation last week!

If STO sees ESG's 3C reserves as a market differentator that was worthy of inclusion in its presentation, then they have to increase its bid for DUE CONSIDERATION for the sale of this asset as well.

That's my thoughts anyway.

Mr P