go to santos ffn preso on hotcopper, page-43

I am certainly glad I am an ESG rather than a Santos shareholder. ESG's upside is so much greater.

No argument there. That's why I am an ESG holder and not a STO holder!

My pick of the LNG blue chips are actually ORG and WPL rather than STO. ORG has far better acreage and it's a diversified company, while Santos is basically reliant on GLNG as a company maker now that the Cooper is in decline. And Woodside has Pluto, Browse and Sunrise - rich wet gas fields with comparable or even greater Reserves than the CSG projects.

But I have to admit, things have turned around a bit for Santos lately. Six months ago they barely had enough gas for one train, let alone two or three. Their stake in GLNG had been sold down almost as low as it could realistically go and they were facing having to buy out ESG and then construct an expensive pipeline. We observed here many times that DK's silence on ESG was deafening.

Then the NSAI report came out, which (assuming it's correct, which is a fairly big assumption) gave a projected eventual 2P almost double their actual 2P at the time, which seems to have secured the second train.

Now DK seems to have started to talk up the Gunnedah.

Then Zola-1 hit up to 2TCF of gas on the NW Shelf in which Santos has a 25% interest. That has nothing to do with ESG or GLNG but it's nothing to sneeze at.

That's why I said aces are returning to DK's sleeve. I think you are assuming I meant vis-a-vis ESG, which I didn't - I just meant generally, things are looking quite good for Santos on a number of fronts. DC isn't always playing at the DK's table. ;)