I am not too sure that Santos will join the party. AS uncle has pointed out earlier this week: Santos has a few problems on their own.
Secondly, I am currently holding a parcel in NXS, a gas producer in Victoria. Nexus is currently delivering 50% of their" Longtom" Gas discovery directly to the Santos pipline in Victoria.
Desipte the fact tha Victoria is highly dependand on the nearby gas facilities, no one has come forward to buy the remaining Gas diiscovery of Nexus. Santos certainly has not snatched up an obvious bargin despite the fact that the carrot is dangeing in from of their noses.
Cash flow seems to be the problem and I can not forsee that they will spend another $26 MIO plus on unsecured exploration targets.
I hope to be wrong as I still hold a larger stake in CIG shares.
Good luck to all: KM
CIG Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
