breakout from stammlager santos, page-4

One of the difficulties in being a member of the Flat-Earth Society is that people tend to trip up over their own arguments.

On one hand, we have been told that ESG's gas is 'stranded gas'; that Santos has enough gas for its two trains; that Santos is a passive investor in ESG... yadda yadda... we have all heard the lengths gone to to try to convince you not to buy ESG.

But then we are told how in some detail how ESG could provoke Santos into having to move on ESG.

HUH? HANG ON A MINUTE, I THOUGHT SANTOS WAS A 'PASSIVE INVESTOR' IN ESG? I THOUGHT SANTOS HAD ALL THE GAS THEY NEED FOR THEIR TWO TRAINS?

Make up your mind. Either Santos is a passive investor, or they aren't. Either they are buying into ESG as a pure investment but don't care who the gas is sold to or who ESG partners, or, Santos have 'acquisitive intentions'.

You can't have it both ways.

I have sympathy, though. Being employed to downramp ESG is a tough gig. A bit like the segment on "The Gruen Transfer" where advertising execs have to 'sell the unsellable'. But in this case it is to convince holders of a massive resource that their resource isn't worth much, and despite spending half a billion dollars, Santos isn't interested in it. And if Santos were interested, $1.30-$1.50 is the price you should expect. Another contradiction. 'Santos aren't interested, but if they were here is the acquisition price'. Like THAT makes sense!

A tough gig, for sure. But you would have thought with so much at stake they could've got someone who was a little better at it...

They sent a boy to do a man's job.

Yaq