JTGood point and yes a GSA into LNG would still be a good...

JT

Good point and yes a GSA into LNG would still be a good outcome for ESG.. As I pointed out the other day PEL 238 and ESG's other leases already have a resource that is more than large enough to supply 1 4 mtpa LNG plant in Newcastle, a train or so in Qld and some NSW power gen. So I wouldn't be unhappy at all if instead of a takeover by STO we saw a GSA for supply of ESG's gas into GLNG. It is what many analysts have been suggesting as the most likley destination for (some of) ESG's gas.

Anything that progresses full field development and locks in LNG pricing will be good. This should get the sp well over $1.00 and at that price i and many others I am sure would be happy to hang in there as ESG builds the company (as QGC and AOE did) with more GSA's and perhaps LNGN. Its this uncertainty and lack of sp momentum that is a killer .. its grinding me down i have to say.

H