Well spotted chibrown.For those who can't get a copy of the...

Well spotted chibrown.


For those who can't get a copy of the AFR...

The article says...

There's no doubt that the ShellPetroChina bid for arrow has increased corporate activity in the sector.

Despite Voelte denying Woodside was preparing a takeover of STO, those familiar with the sector say it's only a matter of time before NSW explorer Eastern Star Gas becomes a target.

ESG controls 2.6 TCF of proven, probable and possible (3P) gas reserves in the Gunnedah Basin, near prospects owned by Santos.

It says ESG is eying a number of options including piping gas to Glastone to help fill out one of the proposed Queensland projects - the economics stack up despite the distance.

It says now that esg is considering its options, Santos could be concerned about the company signing a gas sales deal with one of its rivals or even receiving another takeover offer.

Some say it could spur Santos in partner with Petronas to make a bid for eastern star.

The target has a market cap of 800 million and could fetch more than $1 billion in a biding war (YEAH RIGHT, TRY 3,4, OR $5 BILLION - MY WORDS).

It says Santos is short of cash itself, but a scrip bid for esg at the same time as a larger raising to fund its lng ambitions would not be out of the question.

Exciting times ahead (again my words.

)