The next obvious target after BOW is MEL. I think the smaller players with little or no reserves are not worth buying.
Even WCL is not worth getting and they have hundred times the reserves ICN (which is nothing).
I believe the Arrow move on BOW is securing it from other possible contenders. Eg. if DTE wanted to make a move on BOW, Arrow's mega rich bank account would kick out any suggestions from DTE. Bear in mind, Arrow before takeover spun off Pure Energy and Bow Energy.
Pure is now with BG Group and DTE is the spun-off from Arrow takeover that only has Apollo Gas assets in NSW and international assets. Nick Davis knows BOW well, so I'm sure he probably had a feeling about moving on BOW at a later stage when DTE is a bit stronger.
Now with BOW on safe turf of Arrow. DTE can only make a move on MEL.
Also with all 4 big players dominating Gladstone and nearly all of QLD CSG assets.
Eg. BG Group, GLNG, APLNG, and Arrow Energy. Any shortage of gas needed maybe from Santo's SACB JV or BPT's shale gas projects (BG Group made a move on DLS's ATP940).
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