for new investors - the takeover case, page-7

it is a good read Yaq, but about that.

STO have their stake in ESG that allows them to bring deals to the table that will be of advantage to both ESG & STO.

It is not dissimiliar to Shell owning a 25% equity stake in the Gorgon Gas Project (Chevron operated), but still inking 20 year deals with PetroChina for LNG.

Until STO have something of value to bring to the table don't expect much movement.

That is, either ESG or STO must create a commercialisation opportunity for their stake in PEL238. The advantage is that we now have two companies looking at monetising this asset.

If STO do approach ESG for a t/o that tells me they have a deal in the pipeline with a major. The nature and size of the deal will dictate whether it is worth a t/o of ESG however.

I will be quite happy either way. It is a win win for ESG.

I'm not interested in a t/o for at least another few years. But it seems many of you are.