all paths lead to confrontation with santos, page-16

From memory BG paid $5.75 a share. There were around 900 million shares on issue. Total around $5.5 billion Aud. I think at the time QGC had about 2800 2p. I recall Richard Cottee saying that it worked out at about 80c per unit for the 3p resource.

The major differences here :

ESG has 65% of the resource so currently they have 995 2p.
STO already has 20% of ESG.
Resource is in NSW.
Market conditions have changed.

My figures are pretty rough but you get the idea.