alan fanton and lngn, page-4

So you think Hitachi and Marubeni are happy to just be given a nod and a wink, or a bag of lollies, for millions of dollars worth of free work?

Forget db76's oft-quoted 'Occam's Razor'. A much better conceptual tool is:

db76's Razor: "the answer is the one that relies on the most silly assumptions, especially when required to refute ESG's value."

For example:

(1) Santos spends $500m in Gunnedah investments, using effectively borrowed money, whilst they have a large and expensive LNG project.

Occam's Razor says: They want to use the gas for their LNG project.

db76's Razor says: They are keeping this as a 'back up', for a rainy day.

(2) Santos buys into ESG, which gives them no gas rights:

Occam's Razor says: Santos get no benefit from this, apart from a stepping stone to a takeover attempt.

db76's Razor says: They like making passive investments whilst having to raise money and having a large capex bill

(3) Santos divests non-core assets, to focus their attention and money on GLNG

Occam's razor says: ESG and PEL 238 must be CORE assets.

db76's Razor says: Santos already has enough gas, so felt like a bit of a dabble in passive investing.

(4) a Poster spend literally hundreds and hundreds of hours on HC, arguing against all positive sentiments on one company he says he holds.

Occam's Razor says He wants to downplay ESG's value for corporate reasons.

db76's Razor says: He does volunteer work, warning unsupecting investors of the dangers of baseless ramping, but does it only on ESG.


db, If Santos has ESG all wrapped up, isn't your work here done?

Yaq