IMHO, with the AOE T/O offer by Shell and Petrochina now in the open, STO's plans with Petronas in regard to the SEG T/O have been spoiled.
While the sp of ESG was around the 70cents mark, a T/O would have been possible at $1 mark with a 40 to 45% premium.
Now that AOE's bid is out in the open, ESG's sp has jumped up accordingly and STO plans (if any), have been spoiled and it has again missed the boat. If they want to do it now, at the 40% premium, they would have to pay upward of $1.20 to 1.40 mark at the very least. And then we may even have Origin with Conoco peeping thorugh the windows of possibility as well.
IMHO, I can see better things to come ahead.
Buddy
ESG Price at posting:
94.5¢ Sentiment: Hold Disclosure: Held
