Gosh Db, I'm sorry I had to force you into doing more work in...

Gosh Db,

I'm sorry I had to force you into doing more work in coming up with yet another reply but i'm sure your emperor is paying you handsomely for your role in securing this asset for a complete bargain!

But wait? It is not yet secure, perhaps your big pay day will come IF Santos manage to snatch our gas cheap from under our noses..

In response to your details below:


If it is voted down then what will happen to the ESG sp ?

An obvious Risk that will be Belled before the SOA - that interest in ESG by other parties seems to be Low so the STO offer is all that is concrete and available to holders

If the Opportunity is "Ridiculous" in the sense that it is obvious to anyone then the Other-Bidders must be mustering at the ESG's Gate

You might be right - last week was the absorption of the Carbon Tax Boondoggle , this week was the first bid by STO , next week might see the Other-Bidders getting their bank loans sorted to make a bid to knock off the Santos the Unloved one.

Maybe the ACCC could block STO for having a developing monopoly position in NSW domgas



The value in the asset is obvious in the longer term. When I say longer term I don't mean NLNG necessarily and I will refer you to JP Morgan's huge report on us! Even a short-term upgrade in reserves is sufficient to call this offer from your emperor ridiculous!

You are postulating Other bidders and using it as your sole tool to insight fear in us genuine ESG holders.

We don't need other bidders to make their bids right now in order for us to know the value of our asset. The S.P will behave just fine if the reserves upgrade (relied upon by ESG management - according to Ian) comes out, STO don't raise their offer and we smash STO's offer out of the park.

I'm sorry to say, as easily as you and it seems now most of Australia can see through Julia Gillard's facade, we continue to see through yours.

The reserves upgrade remains the key catalyst, nothing has changed really....