If there is good news from the AFR article....
its that of STO can make a quid buying ESG and then sending the gas north after spending $1bn on a pipeline...then people who are already north and looking for gas won't be held back by the cost of the pipe either.
Therefore any valuation of 2P/3P x any $/GJ value minus $1bn divided by the share base should be the cash offer, regardless who pitches it.
street talk ? esg project up in the air- afr!, page-5
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