"You dont really mean 2000 just for ESG so that would be 3077PJ for the JV ?"
Yes, I absolutely do! 2,000+ PJ of 2P to ESG - 3,076PJ+ of 2P to the Narrabri JV.
The JV has just short of 3,000PJ of 2C that is just constrained by a market - that is an extra 1,950PJ to ESG, just pending the stroke of a pen. All we need is a 'reasonably likelihood of a market'. Like Santos and friends in GLNG!
Perhaps that is behind the rather odd admission of Santos, as reported on FNN on HC - 'we want to use ESG's gas for GLNG'. I wonder whether that was designed by ESG and Santos as a necessary part of the deal, in order to allow ESG (and Santos) to book the higher reserves in PEL 238 ..?
A bigger 2P reserve for ESG is a bigger 2P reserve for Santos too!
it makes sense, now that I think about it...
Remembering that if the GLNG partners were to acquire ESG, it wouldn't cost Santos a cent. So Santos is probably quite happy for ESG, and themselves, to beef up their joint 2P reserves position in PEL 238. Santos, and ESG, would get more money our of Kogas, Total and Petronas if GLNG acquired ESG with a bigger reserve position - no wonder Santos is quite happy to offer ESG a market for their market constrained gas!
A JV partner who wants our gas for GLNG - sounds like a 'reasonable likelihood of a market' to me!
Actually db, I am coming around to a more cooperative view of Santos these days. Perhaps I had them all wrong. Perhaps Santos are the good guys, helping to commercialise our gas, helping to turn our 2C resource into a 2P reserve! And the people we need to watch out for are Grant and the Gang from ORIGIN. Your boys.
Hey, at least Alleyronin came out and admitted he wants ESG to use their gas to support GLNG. But you haven't said what YOU want db Do you think we should go down the aisle with Santos and friends? Or should we look more favourably on an offer from Origin?
Yaq
Apologies Alley. It seems you are playing for the white team, and it is db who wears the black shirt.
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