DbThat's seriously misleading stuff for any new person reading...

Db

That's seriously misleading stuff for any new person reading this forum for the first time. I guess that's the objective or its just a as poor attempt at humour.

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For others reading this thread, a few items to keep in mind when considering Santos' (STO) intentions for ESG:

Does Santos has enough gas? - I'm not sure but unless things have changed, STO only sort QLD approval for 2,650 wells compared to BG which has approval for 6,000 wells for a similar size LNG plant. In addition to it's planned 6,000 wells, BG has a GSA with Origin for additional gas.

Further STO are planning to get 750PJ's from Cooper but I don't think that will be sufficient cover a 3,000 plus well differential.

Its possible STO will enter GSA's with other QLD CSG producers but you would expect there will be some price pressure in QLD given the number of new projects starting up.

My conclusion is they need gas from NSW and they don't want to be competing for supply from independent QLD suppliers such as BOW. (I also hold BOW)

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In an interview with David Knox at the time STO acquired their interests in ESG, DK referred to buying into ESG's acreage as "a once in a lifetime opportunity".

I assume he hasn't changed his mind since that interview.

The interview was available on an audio on STO's website. The file has now been removed from the website. I'm sure others have heard the interview if there are any doubters.


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Finally, and I'm repeating myself and posts from others. If ESG is to be taken over, the GLNG JV participants will likely acquire it in proportion to their JV interests. From this point of view, STO is not capitally constrained.

Interesting times ahead.