although, ESG expect to comfortably achieve 1300PJ 2P by end of 2009 and have the cash in the bank to fund themselves through the drilling program.
I think this may be where the difference is. I like MEL and am just trying to work out why they are so cheap. It may be the forecast of 2P rather than what they have already have in the kitty.
I wouldn't be at all surprised if MEL were the next to enjoy some M&A activity.
