In whose interests is it that this piece of news is leaked to...

In whose interests is it that this piece of news is leaked to Street Talk? ESG's, certainly not Santos'.

I suspect that ESG believes a bid is 'imminent', and hence leaked it to get their base price up prior to the bid.


Remember, there will be those who will get trying to convince you, on here and elsewhere, that this offer will be the best you can hope for.

Do not listen to them, and do not be foolish enough to sell on the announcement of the (first) bid.

ESG have known this was coming for 9 months or more. This is why M&A specialist Chris Sadler is on the board, and why 'DC10' has been flying all over the world in the last 3 weeks.

And remember the binding deal just done between QGC and CNOOC. This is the size of ESG's resource. And remember, whatever someone is offering, they are doing so because they believe that price is cheap and value accretive for them.

Buy now (after having done your own research :) ).

A bidding war is about to erupt.

Y