stand alone or buyout, page-5

Mr DC can have a view about the worth of ESG as we all do

but this $2.4Bn figure which is so often mentioned here is probably based on some old "hopelessly outdated" transaction metric which is no longer relevant

It seems to have been claimed so often that it has become folklore , an unquestioned truther

based on the last meaningful takeover transaction Shell-AOE of $0.95/GJ 2P and $0.60/GJ 3P and ESG 31/12/09 Reserves , makes ESG $0.95x988=$938M and $0.60X1818=$1091M

so with 1023M shares on issue gives a sp range approx $0.92 to $1.07

at present ESG is trading around the above figures so must be anticipating a big increase in Reserves this year, amongst the other usual speculations of course


Cheers