I would expect that pending another world melt down, the bottom is in for ESG and we are headed back over a $1 at the moment. Pilot looks back on track and we should advance strongly towards previously set broker targets. Probably some good consolidation for ESG in the $1-1.10 range as people build their positions anticipating a reserves ann.
Did I misinterpret what you said, that ESG will have a go at OIP when the $1 trigger is reached. If so I doubt it. It would make much more sense to conduct a scrip offer in Q1/2 2010 when their share price has been rerated following a significant 2P upgrade. Otherwise, they are just selling themselves short and I think it would be demonstrate some poor acumen on ESGs part.
There are only 12 weeks til the end of the year and it is going to be an action packed few weeks for ESG.
I am back in.
SF
ESG Price at posting:
91.5¢ Sentiment: ST Buy Disclosure: Held
