the catch-22 of reserves and takeovers, page-3

So a 57.5cps sp is a signal to come out of the Bunker ?

More Interesting Today than Yesterday ?

Poor Santos having to write down its ESG "Investment" on 30/6/11

I will have to wait until after Close on that day to tell you how much STO have to write off

WHERE is MARUBENI ?

They have not even been heard of - they are concentrating on home shores as one would expect

They are the 4mtpa hopefuls I presume you mean ??

I agree with your thesis about Gas only moving into 2P if ANOTHER agreement of at least a MOU status can be chased to ground by the ESG Marketing Beagles. A GSA would be preferred but that might as well be a Mayan Glyph to them.

OLD Santos down and out itself with a sp so low you couldnt trip over it, isnt going to come to the party and put ESG out of our misery is it ? Achieve that state of Bliss where we no longer have to sleep with a mouthguard.

Ive pictured those Santos Gnomes with their Ipads totting up the Bid Price they need to beat off the non-existent "Other Bidders" in the mirage of a contested auction.

IPAD say " 1mthVWAP +40 =0.87" and 8+7=15 and 1+5=6 so as "6" is lucky number for us we will just put a hostile bid in for the ESG we dont own.

But what is the going premium we need to pay to WIN ? Do we need to pay that 1mthVWAP+40 that is obsolete and without currency. Lets punt a "really" LOW bid and see what the Geniuses at ESG do with it - Try out a +30 rounded to 80cps. See if it knocks the socks off the soporifics on the ESG board. They have been dying for a Bid for so long that they will just jump onto the Hook.

Transmission: DK-Base to putative Gnome-BidTeamLeader "Are you Beserkered ? We have NO money for that. Sack that Bid team and go back to Option 1 "Attrition" - Let the ESG hang like the Butcherbird hangs its meal in the gum tree."

"When we and our allies in GLNG are ready we will just announce a pipe north and invite OUR Associate ESG to sign a GSA to fill it up. Why havent you Gnomes thought of that ?

We educate you young accountant types and bring you into Santos, fast track you , and expect you to come up "WIN for STO" scenarios on your Ipads. Now go and do the detail!"

So the great Saga that is ESG just moulders on and on. The Faithful holders look out form their burrows and see some sunlight as 58cps looms into view. Their Visages erupt in a Big Smiles as they do the jig and exuberate that they have been spared the Dread of 50cps or less.

Times are good and the spruikers in the Bull-Sheets are saying that Gas is the Boomer of the moment , the Moree locals are being educated by the GasPeople who will bring great wealth and wont damge anything much that will resist repair, and in HC the BlueSky appears.


Cheers