GAS value plus strategic value

The interesting part of the battle to acquire WGO is that all suitors have a strategic imperative in addition to acquiring the in ground value of the gas
STX - economies of scale, backfilling value added product via Haber
Min - economies of scale for gas processing, supplying energy to their other energy intensive operations in a greener way ( very important as they are super woke)
BPT - underpinning the 250 TJ per day gas processing facility, potential export opportunities, JV in new acreage with existing JV partner
Mitsui - export opportunities

STO arguably is the only potential acquirer that may seek to acquire WGO just for the gas for domestic supply. They come out recenlty to inform market WA gas reserves are in decline.

Interestingly, STX i feel need to try their hardest to win, as for them WGO being sold to BPT at 20c is a shocking outcome as they lose economies, synergies and potential Haber gas, but they also book a loss on their WGO investment. They also move from being the hunter to the hunted. They are also the financially weakest and smallest of potential suitors, so they must aggressively try and win. WGO shareholders know WE and also know the upside potential of WE acreage and SE so are very attractive script offer is required and i think will do the trick. I would be shocked if one doesn't come. Looking at their balance sheet, they dont have the liquidity to complete Walyering, drill a WE well and 100% of an SE well, let alone build a blocking stake.

The ball is firmly in Strikes court

Strike need to revise their bid to .95-1 with a floor mechanism