H,Oakey, Para, the bimonthly drilling report should indicate good progress with the laterals. Molopo found that the coal seams once you are in them are easy drilling, I would have to assume that ESG is finding the same situation. Certainly there is a lot of confidence coming from the company in their latest N.Y. presentation plus the Santos presentation highlighting the size of the gaseous seams in the Gunnedah basin. Have a look at the TRUenergy web page in particular the gas electricity generating plant they have almost completed in Tallawara. This is some plant, will provide the energy needs for 200,000 homes. Without any ado they are now in planning for a further gas fired electricity generating plant called Tallawarra B right beside the original. Huge savings in carbon emissions and very acceptable to government and consumers. Isn't it nice to currently have TRUenergy as a 5.1% shareholder in ESG. They will need lots of gas for these plants. I wonder how far the ESG pipeline is from the pipeline supplying Tallawarra. In my opinion there will be more than STO, AGL and Origin checking the next bimonthly drilling report add this Hong Kong based group to the mix!!
ESG Price at posting:
71.0¢ Sentiment: Buy Disclosure: Held