Maqnoevring

As with everyone else I am trying to work out Macquarie's larger gameplan. The following is from DJ Newswire 'Macquarie Agrees to Acquire Stsake in Oil-and-Gas Field Operated by Bid Target -- Update' (the Stsake is a typo in the actual headline).

In 2015, Macquarie Capital teamed with Brookfield Asset Management Inc. (BAM) for the US$2.1 billion acquisition of Apache Energy Ltd.'s oil-and-gas assets in Western Australia, which formed the foundations for a company renamed Quadrant Energy.

I suspect that Macquarie may be looking to repeat the dose (although on a smaller scale here). I was thinking that MB might acquire CTP, keep the Mereenie component, and sell off the exploration targets to Santos where Santos and CTP were already in JV. The amount of money that Santos is preparing to invest in Mt Kitty etc suggests that this component of CTP's holdings is worth a lot more to Santos than is reflected in our share price. MB may want a piece of that action.

Reading the above, it is entirely possible that I am thinking too small, instead that MB want to roll the assets into a much larger vehicle with the ambition of forming another Quadrant-type company. Would be interested if anyone thinks MB might take a strategic/controlling stake in NewCo for example and roll CTP into it, perhaps with the capital behind it to actually develop the assets.