Thanks for the well-constructed and honest response Yaq.
"But Alley, don't let me convince you. I won't anyway. Go and spend your time searching for a stock you really do want to buy. It is time better spent than arguing with poor misguided souls like me. :)"
You have convinced me. For those very reasons you have outlined I have been hesitant to buy in. The market reflects this same sort of hesitancy also.
Delays and holding back information are no-no's in my book. STO with a blocking stake has been a no-no also....... at least up until recently. I believe they made it clear that ESG was not a major priority until all their financings and the final approvals for GLNG were in place. Clearly ESG has been frustrated and has tried to go it alone re LNGN. I believe both companies still have many loose ends to tie up before they are likely to work together or sort out a compromise(either amicable or hostile).
Disagree with you that the market is frequently wrong. In fact it's always right. For every transaction there is a buyer, seller and agreed price. Circumstances change but every deal is real. The Japanese earthquakes are a classic example and markets respond continuously to changing perspectives and needs. They well may have triggered catalysts for changing the entire energy sector... creating very different opportunities and threats for ESG and STO, both together and separately.
As for you being a misguided soul..... LOL. We just see things differently. You are in, looking inwards. I'm out, looking outwards. So entirely opposite perspectives.
I agree with you re history and value. Timing and bargaining power are all important. ESG clearly needs more time to improve it's bargaining power. Will the suitors come before they are ready? Will there be one or many suitors in the post-Japanese earthquake era?
ESG Price at posting:
62.5¢ Sentiment: LT Buy Disclosure: Not Held
