interesting stock, page-5

rudders,

i am still relying on ESG to drag me out of my financial quagmire but firmly believe ESG is the stock to do it. it has everything in its favor, great acreage, management second to none and the technical expertise to expedite the reserves programme and probably ascertain full value to any potential suitor.

on conversations with management it was indicated that most of the majors had probably approached them but i know management want to extract the right price if they are to sell.

on an objective basis which other companies would compete against ESG for a take over - obviously sydney gas is another target but surely anyone like AGL or Origin would want to purchase scale as opposed to messing around with small bolt ons.

it does look like people are building a position in ESG and it could go for a good run on any decent news - reserves upgrades, significant holder notice, new mou's or beach petroleums CSG asset sale.

i really think management want to take ESG to the same sort of levels as QGC.

but in this climate its nice to be in a stock that has minimal downside and significant upside. certainly in the next year, surely $1 is the minimum price that we should be looking torwards.

the open briefing reads very well, between the lines they are saying they have more gas than the domestic market needs - lots of 3p that is constrained by the market.

roll on the good times. i can remember buying significant amouts of OSH for $1 and it did not do much for a year or so but then went up five fold. certainly ESG looks like the same potential.