Am pretty certain I posted that Santos or Origin Upstream (what...

Am pretty certain I posted that Santos or Origin Upstream (what you refer to as AGL) will take out MPO sooner or later.

Santos took out Tipperary's Fairview/Comet Ridge CSG holdings at $630m in 2005/2006. They have since spent an equivalent amount in new drilling.

Origin actually sold off their CSG holdings in the Molopo gas area (which is in Moura) to Anglo/Dawson Seamgas. Origin have also gone on an aggressive drill campaign around Peat.

The good news about Gloucester is it's proximity to the Hunter valley. This is also what makes ESG such an interesting play. There is no diversity for gas supply in that area, and a virtual monopoly exists for energy supply in ahuge energy demand area. To the extent that a private venture formed up in 2006 to build a pipeline from the Wallumbilla gas hub (SE QLD) through to Hunter Valley. I know that as of mid-2007 there was EIS planning occurring, but with the developments of domestic NSW seam gas, this might change.