new broker report, page-8

TP

No worries .. yes it was out (to clients i guess) on Friday and I posted some extracts then. But it was only posted on ESG's website today.

Upside is substantial IMHO, and the STO conference call stuff posted here by holy (MLA) highlights that STO won't want a scenario like what happened with AOE/BG and PES. How they will stop that short of a pre-emptive high ball offer I don't know.

Then again there is plenty of talk that STO is itself being looked at very closely .. so maybe the purchase of Gunnedah basin assets is another piece of bait for any prospective STO suitor. STO certainly talked up the HUGE reserves and HIG QUALITY in ESG's leases. Would you advertise that fact far and wide to anyone else who may be interested ... if it were not to promote the value of STO and or if you were not planning to take full control of ESG sometime .... perhaps soon?

H