I thought overall the vibe was quite positive, except for when they were trying to justify their great big pay packages (John Anderson will always be a politician) and the OIP/GGX merger. Although to be fair I can understand the squeamishness on both issues - after all how do you really justify something when the honest answer is "this really isn't justifiable on commercial grounds it's more personal gain that has motivated us here". It will be Easter and Christmas on the same day if that were to ever happen.
Those 2 issues aside I thought the meeting went well. David Casey pointed out on a number of ocassions the importance of booking reserves to realise 'full underlying value' i.e. if a takeover were to occur (my interpretation). I was actually expecting to come out of the meeting and to see the SP moving north and wouldn't be surprised to see it move that way before Xmas.
JT
ESG Price at posting:
85.5¢ Sentiment: Buy Disclosure: Held
