bid over $2.00?, page-16

Forget AOE. The recent market developments will no doubt have their directors rumunating about the wisdom of accepting the price on offer. I am almost certain BG and ANY other company linked to the Chinese will NOT make a superior offer. Davies & co. may well live to regret their decision (although I sincerely hope I am wrong, as I, like many others, stand to benefit if I am).

ESG however is an open slather. STO may have up to 35% interest in some of the leases, but 35% gets you 0% control (and they know it). It only takes one other bidder to turn this into an auction of a most grand scale. And there are many that need the gas reserves (and flows) either to fulfil their contracts OR to act as a buffer if their own fields fail.

JT