ESG is at the end of the poker game, its times to either fold or...

ESG is at the end of the poker game, its times to either fold or push all your chips in the middle of the table.

the silence is two fold:

1) a well articulated strategy that unfolds with critical mass - reserves / resources of significance and commercialisation options that opens the door to many and creates a competitive bid process.

2) don't announce problems that don't have a solution - ESG have been naughty with this but i am sure we all agree, we would rather have the market appeased than having to put out fires - however no news creates uncertaintity.

january is a time frame on many fronts - LNG land settles, HGO expires and we should have our reserves upgrade. i don't think they can get to the agm without compelling news - its been too vague to date. DB has a point, no GSA's and certainly no mention of an LNG Partner.

certainly they needed to signal something to get the CR away but not sure what.

the downside is that ESG strategy has not played out but these guys need the pay day as much as we do and some of the hold up could be our retarded NSW government - maybe they did not hand the brown paper bags to the right people.

anyway i am all in, happy to live and die by the sword - we have massive resource that someone should want. worst case scenario is hopefully DB's best case $1.30 - $1.50.

best case october sets fire to the whole sector and we all move onwards and upwards.

yes DTE are good marketers - good on them for making their off shoot another success. lets hope DC and co. can do similar things.