I wonder how much this article in the AFR today has helped the positive sentiment towards esg today.
It's in Market Wrap on page 31.
*** The $3.3 billion offer for coal seam gas play arrow energy by royal dutch shell and petrochina has proved a boon for new explorer eastern star gas.
Should arrow be swallowed, Eastern Star would be among the largest independent coal seam gas companies out there - a fact not lost on investors who piled into the stock following the arrow offer.
Having fallen to an 11 month low of 54.5 cents in late february, eastern star shares shot up to 80 cents after the arrow offer was revealed.
If nothing else the shell petrochina offer has given eastern star managing director davvid cases something to talk about as he meets investors on his current roadshow to new york, houston and london.
Eastern Star is the largest coal seam gas tenement holder in nsw, and has adelaide-based santos as its strategic partner and major shareholder.
ESG Price at posting:
84.0¢ Sentiment: Buy Disclosure: Held
