bow takeover, page-20

Good One Nervous,

Backing up your truck to the BOW in the Hope of a higher Bid

$1.48 is already a 43% premium to the 1mthVWAP

What makes you think that Other-Bidders will out bid Shell?

Did Other-Bidders out bid Shell for AOE in 2010 ? NO

You are truly Courageous

The 20c/GJ 3P is a new bid metric so STO will use that in bid justification spiels

It is noteworthy that the Bid is from Arrow Energy Holdings the LNG project company (Analagous to GLNG), the company jointly owned by subsidiaries of Shell and Petrochina.

At least it is a real cash offer and the BOW management have some Resistance Fighter DNA unlike the ESG bunch who got far too many incentive shares at too low a price for achieving too little and so just Rolled like melons.

But BOW knows the AOE history - once Shell the big guy is in the ring who wants to compete? , so the BOW board will probably reckon that in such tough times $1.48 isnt that bad

Now Shell has struck to get set for its much delayed project the only available Other-Bidders for ESG are BG and ORG

BG and ORG know each other as BG had a go at ORG.

ORG is an energy retailer that just fell into LNG using CSG.
How comfortable are they ? Just 1 train , Just 1 customer ?
They also have that Tristar Reversion Rights problem .

BG may see ORG as amenable to a "nice" exit from LNG. COP wouldnt mind and that extra customer that BG wants APLNG already has - Sinopec


ESG has STO as its Bidder

There are no Other-Bidders revealed so far

Give Up on this Other-Bidder Guff - You either want STO scrip (Hold) or you dont (Sell)


Cheers