As far as STO is concerned we are still at the early stage appraisal , which is not the reality . ESG or its ancestors have been in Gunnedah for ages and it is well known now whereas STO by its own admission is a newbie in its own Gunnedah areas. They bought into ESG and Narrabri to catch up.
The Narrabri CSG JV wont go to field development until they have some GSAs as backing - Where are they ?
What takeover has DK been involved in ? We thought that when he turned up the acqusitions would begin and STO would grow fast. Santos seems to be an Organic Farmer just ploughing the dung back into the ground and waiting for more gas to generate. I am not a Santos historian but it seems that their modus is ponderous slow and steady. Otherwise they would have snaffled ESG and maybe BPT but they are still the Gentlemen of the GasWorld just exploiting what they have. So expecting STO to takeover ESG is like expecting a Tortoise to beat the JackRabbit. And the fact that Santos itself was once touted as a juicy morselwurst for a giant predator yet is still listed years after the 15% restriction was lifted
Santos friendly statements in this Clinic are to be roughly discouraged :)
I am tempted to sing the Santos Cheer but I wont unless it s requested :)
Cheers
ESG Price at posting:
76.0¢ Sentiment: Hold Disclosure: Held
