There will now be renewed focus on the csg sector after today's corporate activity. From here on, I would expect the momentum and speculation will push most shares in trhe sector alot higher over the next couple of months.
This week is going to be very interesting. If the US continues to behave, we could see ESG move to the 90s. The more momentum forward, you would think whoever is shorting will want to close out ASAP (if there didn't already do so today).
Once AOE is gone, this will be the next kick up for ESG. BOW and ESG are really the only CSG groups with a more than reasonable resource remaining.
So either/both will be on the raider.
It was interesting that SHELL and PetroChina have bid for AOE. Obviously the buyer of LNG is also picking up the asset. I wonder whether we could see a play for ESG involving STO with whoever STO sells 9% stake in Gladstone?
Or, Patronas of course. It will reduce STO's expenditure.
ESG Price at posting:
81.0¢ Sentiment: LT Buy Disclosure: Held
