ESG is under the wing of the STO bird - no other big birds seem interested - dont think AGK could compete
STO just loves being able to book incredibly cheap BOE in its reserve statements but at some point pipelines would be needed to continue commercialisation
at 35% of the acreage + 19.42% of ESG's 65% it is on a good wicket
what did STO pay - $1 and a normal control premium is about 30%
so if STO saw value at $1 - that is the maximum it would want to pay for the rest of ESG
as ESG sp drifts to the 70c and possibly below - who knows ?
ESG Price at posting:
74.0¢ Sentiment: None Disclosure: Held
