RGS good play on Otway Basin.
RGS to merge 3/4 with PEM . PEM holds 30% of Strike Oil which is 50%/50% with STO in Casino 1 well.
RGS has 90cents in assett of which $33 million is cash.
PNG pipeline delivery will put enormous pricing pressure on a large number of existing gas suppliers from Queensland down east coast to South Australia.
Many interests in play here.
