My preference would for Santos to sell the PNG assets, the market is bandying a figure of 6.5 billion.
Let it go , 13.5 % isn't really a position of strength, unlike GLNG which is 30%, and operator.
Pay down 6 billion off debt, use 500 million as a special dividend of 50c per share.
Watch the share price go.
(hopefully)
Debt will then be only 3 billion (aprox)
Takeover Looming, page-25
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