mel announcements, page-38

I often wonder why the big guns wait until the little fish have proven up resources before striking with a takeover.

Why not pick them off and prospect themselves?

Take for example Red Sky Engery, (ROG). They have no gas proven yet, but hold vast acerages including 4 various PEL's immediately bordering ESG's 434 and 433 to the North, South and West and basically everything between there and the SA border. They hold PEL 946 and ATP840 in QLD, they are about to spud a farm in to PEL479 and 459 butting up to MEL's PEL16 and 13, and they have a MC of only about 20 mil today.

Maybe there are just dozens of these type of co's around and their PEL's are rubbish? (I hold ROG)