Forget AOE. The recent market developments will no doubt have...

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