If you have ever seen a Santos accountant you would know that a $1.30 bid would be regraded as Rich
but as ESG sp has held up well a typical 40% premium to the 1 month VWAP currently about $0.865 = $1.21 so the range is improving
STO are stingy, though less so than they have been in the past - Knox is a strategic genius by comparison
I reckon STO wont move before the HGO top up expires in Jan 2011, unless provoked by smart strategic moves from DC
The interesting dynamic ESG could exploit is the arrival of DTE on the scene .They would have trouble selling a JV interest as STO would probably have pre-emptive rights but they could look at other moves
Provocation is the key if we want ESG taken over by STO or better still another party to create some competitive tension for the many and great resources which ESG has in its deep kitbag
ESG Price at posting:
88.5¢ Sentiment: Hold Disclosure: Held
