price esg = future stable energy supply., page-7

db76,

I hope there is not a bid yet. But if there were, Santos (hopefully for them) would not be stupid enough to make a lowball offer like they did for QGC.

I think a bid may come soon. The shorters certainly seem to think so. But I hope ESG has lots more time.

Every day ESG remains independent is a day they are adding to their resources and reserves behind the scenes. Their gas reserves, increasing as a result of 4 pilots all on pump, are clicking upwards like a domestic gas meter. We just can't see it happening.

Remember how quickly ESG's 2P reserves increased, once BW was on pump late in 2009 after the technical problems? That was largely on the basis on one seam.

Well, ESG has FOUR pilots pumping gas from 3 seams. One of those seams doesn't have any resource booked yet.

One of those seams, the smallest one, is only 4m thick, and yet is pumping at, who knows, somewhere between 2MMCFD and 3.5MMCFD..?

So the longer the process takes, the more ESG's value is going up. Reports tend to be snapshots of reserve upgrades. But make no mistake, the longer the process takes, the more ESG grows in value.


And I am going to make a prediction. Whatever the first offer for ESG, db76 will be recommending ESG holders accept it. Guaranteed.

Y