a 'pop' quiz for the staff at esg

Hey all

There are many questions that are just plain unanswered and may be glossed over in the course of events. Perhaps some of us can put these to the right people via email, directly over the phone or at the EGM and, hopefully, at the AGM.

My humble suggestions with limited time today would be;

1. The EXACT date the quantitative & qualitative information was SENT to the certifiers for the purpose of the IER


2. The EXACT cut-off date that the above information was valid to in respect of information re the wells (hint - this date would be well BEFORE the date referred to in question 1)

3. Since the CUT-OFF date referred to in (2), has there been ANY more information coming from the fields / wells that would impact on the stated reserves in the IER?

4. Given your answers to the above, what would you REASONABLY expect the current reserves position to be in relation to those disclosed in the IER?

More?
Less?
Same?

5. Do you believe that it is appropriate to update the market in relation to your answers to questions 1-4 prior to the vote being taken?

6. If your answer to (4) was 'more' - how would you describe the extent of that increase (hint - please do not use the terms, 'strong' or 'will not disappoint')

7. Which word is more important in the term 'performance shares' ?

8. In relation to the IER (omitting Hoskissons contribution) was there an actual upgrade or downgrade of reserves? If a DOWNGRADE - compare and contrast the word 'strong' in the context of that downgrade.

In relation to announcement on 14 October by John Anderson;


1. If the share price at the time of the announcement had been 73cps and not 88cps, would the announcement have been made ? (hint - IER placed value bw 77cps to $1

2. Of the 45.5 MILLION shares controlled by the board, how many of these were purchased on-market with OWN funds?

3. I note the absence of any reference to the TRU transaction by the IER as being UNFAIR & NOT REASONABLE - was this an oversight?

4. You refer to the 48% premium that the offer provides on the ESG sp prior to the scheme's announcement. In 25 words or less please describe the concept of 'shorting' a share on the ASX.

5. What was the purpose of the announcement? A balanced view to shareholders?

6. In relation to (6) please explain the following sentence;

"Your vote in favour of the scheme is critical to the success of the acquisition of ESG by Santos"

Just a start but some of the questions are food for thought and perhaps..action!

all the best

(rushed post, sorry for any inaccuracy, bundawee is out for 1hr with aunty :) and is DEMANDING when here :)

regards