all aboard the irony express!, page-7

"As for ORG and STO --- I know you love these two but history tells us that they are ORGANICALLY bred and takeover stuff is no longer their bag. They have tried and failed and at least have the decency to have quit trying.

I am afraid, db, that 'organic growth' just won't cut the mustard for either Santos nor Origin. Not when the game is changing overnight. And not when the economics of large LNG projects demand a 3rd Train.

With a structural change about to hit the power-generation industry, it is time to acquire the large independent gas reserves not in the hands of the majors, or miss out. Organic growth (watching the grass grow) just won't do in this situation. Just like ORG was prepared to pay top dollar for retail assets in NSW - it was the time to act, and as such they had to make these bold investment decisions at that time. Origin will have to act decisively again here too, or fail to secure these upstream gas assets in NSW forever.

And as forSantos - they have bet the farm on GLNG. They have sold out equity cheaply to get their 2-Train project off the ground - a $16 billion risk for the project, for a measly 11% IRR. Not great. So for Santos, it is all about getting enough gas and customers for the 3rd Train. The Money train. They have risked the company's future on it. $500,000,000 spent already in Gunnedah (of effectively borrowed money), and Santos are creeping their ESG shareholding up. Organic growth? I don't think so!

db, you have spent much of your time on HC arguing that ESG shareholders must prepare themselves to accept a +40% VWAP takeover offer. And you at the same time try to argue that Santos and ORG are going to continue with organic growth and not acquisitions. They have enough gas, no need to buy more, will wait until after 2015 ... ra ra ra.

This is the trouble with your attempts to naysay all pro-ESG arguments, db - you trip over yourself. PICK a line of defense, and stick to it.

Yaq

And, when ORG and Santos do come a-bidding, I shall do as you advise me db, and tell them to stick to their organic growth. And I will tell them that their offers are a load of manure.