Alley, the option, in a nutshell, is to get our 2P reserves up, get the approvals, demonstrate commerciality from all the seams, open up our data room to anyone who wants to look, refuse to sign any GSA's, wait for the carbon tax to open up a huge new industry, and then let the big boys slug it out. Because we know, and have known for some years, that there are MULTIPLE parties who want and need extra gas. OUR gas.
The 'market value' for ESG will be determined when the bidding stops. Any 'deal' with be sub-optimal. It is the underbidders who forced the price up. We only really find out what the top price is in a very public, very contested, bidding war.
And Santos , I am pleased to say, is going to perform the role of the UNDERBIDDER. And so I thank them for that. :)
That is my plan. And, I strongly suspect it is ESG's plan too. Whilst your plan sounds great Alley (from Santos' perspective), us ESG holders have rather a different view.
Let the biggest and the richest take out ESG. And then Santos can keep their minority share, or capitulate and sell out to the victor - you choose. By then, I couldn't care about Santos or their problems.
Yaq
ESG Price at posting:
65.0¢ Sentiment: Buy Disclosure: Held
