all systems are go, page-3

The deal announced today between Origin and ConocoPhillips looks like setting a new valuation mark for CSG, even surpassing the former Santos/Patronas deal in march. At $9.6 billion, that puts Origins 2p reserves at $4 per GJ, and 3P reserves at $1.88 per GJ.

Deal effectively kills off current hostile takeover by BG. This effectively means BG must go after a new target if they want access to Australian CSG reserves. Not suprisingly, market looks like factoring QGC as mostly likely target now, rising 30% today.

All good news for ICN holders IMO, given ICNs significant GIP.