Who would be interested in a takeover?Not Santos as they have...

Who would be interested in a takeover?

Not Santos as they have their hands full, and if they were to take over anyone it would be ESG. Not Woodside, since they too have their hands full and are contemptuous of CSG. BHP have the cash but also aren't interested in CSG and MEL is probably too small for them in any case (unless this turns out to be a multi-tcf resource comparable with the Cooper Basin, which is quite possible but shouldn't be counted on at this point). The international oil majors similarly would probably find MEL too small except in a best case scenario. Arrow may have been interested, but their strategy at the moment seems to be concentrating on proving up their own very substantial resources, and they are caught up in bringing to FID their LNG project.

Who does that leave? AGL and Origin. Both have a lot of cash, both are active in NSW, both are retail gas and electricity suppliers and it is likely that left alone MEL would eventually be in competition with them. I'd consider taking one AGK or ORG share for every two or three MEL shares once the MEL resource is better defined. I hope they don't make a bid too early.