Is this the same report that hardmano posted "4426290" on...

Is this the same report that hardmano posted "4426290" on Friday?:

Here's an extract from a Paterson's update this morning. Note they are reviewing their $1.00 target!:

Acquisition of strategic stake provides immediate seethrough upside for ESG share price. STO acquired Hillgrove Resources’ 19.99% interest in ESG for $176m in a move to align the interests of the newly formed JV partners. The deal equates to $0.95/GJ of 3P reserves and an ESG share price of $1.00/sh. STO has also agreed to make additional payments to HGO if any party acquires more than 50% of ESG for a price in excess of $1.00/sh.

Multilateral Campaign to drive growth. While the HGO
transaction directly supports our current valuation we believe that ESG offers substantial upside with current reserves a fraction of the enormous resource potential. ESG look certain to meet 2009 reserve targets of 1300PJ of 2P reserves from its initial 2 wells alone, with
an additional 4 x production pilots to drive reserves growth into 2010. Hence, we maintain our BUY recommendation and will look to review our price target of $1.00/sh.

More from Patersons I recon once they have crunched the numbers. they will like the "de-risjking" both in terms of production after the tri-lateral results, and from the fact that STO will be able to provide development muscle and markets for the gas.

H