another shot across santos' bow

This is clearly a highly provocative deal to Santos, on top of the previously announced deal with ERM Power.

ESG, not the PEL 238 JV, are out there independently signing the deals.

If this trend continues, Santos will own 19.45% of a company who is providing commercial benefits to everyone else, except them!

This says to me that ESG do not fear Santos. They don't fear a lowball offer, and very likely know that if Santos were provoked into a bid, there will be multiple players at the table.

Cabbagedriver - yes, history does repeat itself. But not the MIM/Xtrata history. The failed Santos bid for QGC history was the history I was thinking about. There are many histories - not all of them can repeat themselves!

Y