technicals, page-6

Well back to the land of the living, 24 hours behind bars for PUI (posting under the influence) you live and learn.

Its good to see some poster have a sense of humour as my tongue was partially in my cheek yesterday re takeover talk. However the RSI currently for takeover talk is still 94 for ESG. (above 80 is overstating the word and under 20 is understating the word) We had a slight drop today with only a few mentions. Thank the lord for small mercies!

Now I better get on topic. Can Santos afford ESG? My answer is not for a long time. We all want $2 plus for ESG which takes the cap north of $2 billion. Discount the 20% shareholding and its still a lot of cash and with commitments to PNG etc I cant see how its possible to afford such a purchase without being irresponsible.

For me the 19.9% purchase is a defensive play to keep suitors away from a top CSG player.

Santos has apparently stated they will invest further in ESG, but they have nothing commercially to gain by being so overt with their intentions. For me its one of those infamous non core promises.