esg next target, page-20

I don't know if this has been posted, appologies if it has.
Exerts from eureka report

Its possible that Arrow will attract a counter offer, but its unlikely. Arrow has been looking for a buyer for some time and Shell already has substantial involvement in Arrows operations. If another player were to emerge it would set off fireworks, precisely because it would take a huge effort to unseat Shell from its position. There are easier ways to tap coal seam gas, which brings us to Santos.

There are three CSG players in Queensland and I think itll become two at some point. Santos is seen by some as predator rather than prey, but Im not so sure. Santos has a 17.8% share in Eastern Star Gas which could very easily become a prelude to a full bid. Bow Energy is another company that is often mentioned in the same breath as Arrow. There is no shortage of interested parties that could be looking at these companies very carefully. Shell is also a possibility as is BG Group. It will be interesting to see how consolidation resolves itself here.