I don't know cjc73 and hence please do nit take this in offense just theorizing.
I have seen a numerous amount of take overs and was involved in ARO and SGL and there were always a number of people making comments such as these and positive ones to drive SP in order to make either a cheap purchase or even 2 to 5% on short trades.
At the end of the day if the upgrades were no great or at least ok then why would Santos bother with all the effort they exerted into this takeover. I believe santos requires everything that ESG has including upgrades to reserves and future discoveries. ESG management have already stated formally numerous times that the upgrades would be substantial, so they will be substantial. I also believe that DK and the management team were doing everything to get STO to move on them in order to hope for a better offer on upgrades or even an auction. They want a good price also I think.
Theoretically who knows maybe our management team assisted in driving the price down hoping for the initial offer anything is possible.
The only part I don't understand is why the upgrades are going to be announced with the independent report and not earlier? Is it because the independent reviewer can take into account STO gas requirement hence upgrade will be increased as there is a market requirement.
Anyway fingers crossed it all works out
God luck all
Re Bob
ESG Price at posting:
86.0¢ Sentiment: None Disclosure: Held
