Saw an item in the AFR yesterday on the BOW/ Arrow deal and also...

Saw an item in the AFR yesterday on the BOW/ Arrow deal and also that a report on the Petroleum Resource Rent Tax said that as a standard for valuing CSG, it should be on 3P and at around $0.60/GJ .. which makes Arroww's offer of $0.16 look well off the mark. It was suggesting they would have to up their bid or others would step in. same could be said for ESG.

Also in today's SMH Busoness section on page 3 there's an article on NSW electricity generation and renewables and gas-fired power quoting Hartcher as saying we need to foster a gas industry in NSW to avoid power shortages and that 7,000 PJ of gas-fired peaking power and 700 MW of gas-fired base load power gen is expected in NSW over the coming decades (compared to 400 MW of renewables). He's setting up a Gas Development board to foster the industry .. this equals the csg industry!

Maybe bundalee's ORG offer is a possibility given the above and their power gen interests?

H