rrt - the age, page-8

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I agree with Yaq that this legislation may not pass the Senate and or the government may do another backflip and moderate it for some/all.

But its all perception isn't it!! Santos has been hit twice lately ... the ETS being sidelined will hurt perception of its growth strategy via power generation and now this tax makes investment in LNG from CSG look less attractive particularly to overseas majors. So the attractiveness of STO as a takeover target has also declined and hence the selloff of the last few days. This sentiment inevitably flows down through the sector and given that ESG is currently perceived to be linked at the hip to STO .. its not surprising that ESG has also been sold down. Takeovers also become less likley with the new tax and so BOW and ESG being the most likelies are hit once again by traders.

Its hard inveting at present!

H