reading between the lines, page-6

Wow thanks Sath,

ESG's obvious suitor was and remained Origin. This was admitted by both David Casey and J.P Morgan.

I have to ask you, how many conversations did you have directly with any of the above??

ESG's assets are/were in dire straights according to J.P Morgan and David Casey complained to me directly about a lack of approvals from the NSW government. Origin were approached but said "no thanks" based on difficult technicals associated with ESG's reserves. Not only Origin, in fact every player was approached and knocked back ESG based on its technicals.

Read my post again regarding BOW. I did not enter it in any significant way. I threw some fun money at it after the takeover in case of a bidding war. It wasn't until after I did a more thorough due diligence I discovered the pitfalls. Fun money is exactly what the term implies.

Always the way!

As for MEL, you need to read my posts more carefully Sath. I said IF..... IF The Clarence Morton Basin can be proven to be anything like the SURAT basin.

Do you not understand the word "IF"?

If MEL goes for 70-80cents, given my current "chunk" I would be happy with the outcome. What is your point?

I maintain my opinion, this asset is worth WAY north of $1 if reserves quality can be proven to the majors.

Anyway, as always, thanks for the feedback Sath. :)