All,I will put together something substantive tomorrow. Nice to...

All,

I will put together something substantive tomorrow. Nice to catch up with a few of the ESG's supporters again, and meet some new faces. Although there was a strong sense of deja vu. Groundhog day even. :)

It was an interesting day, at the meeting, beforehand, and afterward. Not everyday you have a civil coffee and chat with one of the protesters, help them with their crossword*, then they go off and protest against your company, and we go off and attend our AGM.

I might add that I was impressed with the way John Anderson handled the issues of local landholders, and the challenges put to him. Whatever you may think of him, he being a local landholder and farmer, who has been very involved in rural politics for some time does carry weight, credibility and influence in a way that a gas industry professional cannot. (Although I am sure some of the usual suspects on here will be happy to attack him from behind the safety of their pc.)

DC-10 was his usual confident self, and across all the issues. (Although as I said privately to one other well-known holder, DC's confidence is all well and good, but that does not buy you your new sports car!)

Interesting that Santos voted down Resolution 4 (which was actually withdrawn by ESG prior to a vote on the day), not on the basis of the remuneration per se, but because they did not want extra shares issues outside of the 15% rule.

So it seems Santos are more concerned with dilution of their ESG holding than what the ESG directors give themselves. An interesting insight into their thinking.

Also interesting that DC mentioned that David Knox rang up and spoke to him personally about the issue. I got the impression that they don't speak that often, even though ESG say the JV relationship is fine. One can't help but wonder why Santos is not participating co-operatively in the commercialising of ESG and their gas..? Some JV!

But comment of the day came from one of the vocal critics from the anti-CSG lobby who was sitting immediately behind me (I remember her from the last AGM). She complained about ESG in relation to the food production in the Liverpool Plains. When JA told her we don't operate in the Liverpool Plains, she replied:

"Yes, well, Santos do, AND YOU ARE OWNED BY SANTOS!" (or words to that effect). The meeting broke off at that point with much hilarity.

Hmm, perhaps a little research on behalf of the anti-CSG lobby would go a long way!

More tomorrow.

Yaq

For those doing the same crossword, 9 DOWN was 'Wormwood Scrubs', and 17 ACROSS was 'Wasabi'.