Very encouraging Annual report..As a presentation, it is well laid out and has in some ways answered a few of the lingering doubts..
Noticeably absent of course, not like in the 09 Annual report where they received a glowing endorsement from the hon.JA in his chairmans address about working together and other rubbish, is the mention of Santos, who?
we find very little if any reference to Santos whatsoever, except in the tenement maps.
What we do get is a tantalising glimpse into the future of ESG with the following excerpt that is tucked away deep in the Commercialisation section of the report
'Eastern Star Gas aims to progress approvals and licencing processes with the objective of being able to finalise gas sales arrangements and make project development commitments by the second half of 2011.'
This statement in itself, is a major shot across the bow of the silent partner. In other words, whether you like it or not, we will be aiming for Gas sales agreements(which would be double digit billions) with our customers in Japan, Korea or China in the second half of 2011.
Admittedly, there are a few hurdles to get over before this happens but the objective is clear.. Commercialise the resource completely within the next 12-15 months..by that I mean end of 2011.
How are Santos going to react to this?
DYOR
ESG Price at posting:
93.5¢ Sentiment: LT Buy Disclosure: Held
