Yaq,I had to give you a TU.Your post accepts that LNGN is likely...

Yaq,

I had to give you a TU.

Your post accepts that LNGN is likely a prancing horse for the audience to admire and to generate some extra momentum for the field development feasibility, not just all those tired powergen MOUs.

"..the likelihood of LNGN going ahead at zero."

An astute CSG investor like yourself knows that Marubeni reads HC. What are they now going to do ? Lob over a GSA to hold ESG to LNGN ? A 1Mtpa 20 yrs - 1200PJ would be a good move. If Marubeni is serious ? Or would GLNG reserving the 1mtpa they may want satisfy them as ESG is devoured. Customer transfer or churning.

As for the picture you paint of ESG being not good in fieldwork and governance I dont see how that can enhance ESG's value in the Competitive auction. Appraisal drilling and field development are different as AOE highlighted with their embrace of production engineering adopting Lean Manufacturing and TPR practices to batch drill. I dont think ESG's performance in appraisal drillinng would be indicative of production drilling when they would be able to afford more resources to meet a GSA and have the assistance of a major like Santos.

The better ESG can present itself the more likely that the bidders will have to compete at a higher price.

Newsflow is what we want but you cant criticise DC for being inconsistent in that area. He doesnt do many news stunts and releases only the meaningful. I think that I have become fond of him.




Cheers