CBTM,
Totally agree.
ESG not needing to pump up their own price reflects a position of strength.
If they were worried about Santos picking them up cheaply, ESG would be throwing every piece of good news at the market in order to get their price up.
But, they aren't doing that. They don't need to.
No reserve or resource targets. No need to put out flow rates (until they want to kick things off). No need to sign their gas over to anyone. No need to even talk up commercial opportunities.
No spruiking means ESG is in a position of strength.
The more you think about it, ESG must be highly confident in their position, and they must have multi-party interest. If not, they would be throwing every piece of news, manufactured or real, at the market.
Oakey is right. Silence is golden. Silence reveals strength.
Y
an interesting day ahead, page-12
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