Would it surprise anyone that STO did a bit of a nod and a wink...

Would it surprise anyone that STO did a bit of a nod and a wink to NSW pollies that NSW gas was staying in NSW, not going to those pesky Morons in someplaceelseland? Hence the public comments about ESG going to power to remind the pollies about the deal, not the higher value-add export LNG. Just keeps gas and jobs local, plus reduce NSW CO2.

The problem with going north is the near billion dollar pipe needed. Thats a lot of head wind in any TO offer price, plus its only for a part share in ESG.

BG going into shale already tells you that that ran the ruler over ESG, worked out the best price they can offer and the value to them, as well as doing the same thing for STO. They won't be bidding unless thay can see they can win, and they won't be bidding to save ESG shareholders.

The question is would they bid something just to put a starch crimp in STO's shorts. just so STO bleeds a bit.....maybe, but low probability.