yaq db76, what now?, page-7

Well I am not surprised that the BS Crew has been prancing around the camp fire today clacking their coconuts together

In my Homily on the Technical prognosticatories I saw 80cps as being a very tough ceiling to break through with any gusto

And this positioning over the OIP looks like that ESG might scrip an offer with some minor dilutionary effect .They might more likely just throw some $ over the fence , just a few million needed. The OIP looks ready to be welcomed back into the pack.

That Energetica bunch could well see how the grass was laying and thought that with the might of ESG in the background they might just squeeze some good money out for themselves. What a canny crew they are.

We have to hear from the Marubeni soon. I still think we should be patient considering the Japan disaster and the need for Marubeni as a trading company to await instructions.

We should be impatient about the ERM MOU , conversion to GSA promised by end 2010 and now likely to be caught up in the imbroglio of the BOF trying to troll through the detritus left by Labor and bring them to account with a hailstorm of Royal Commissions and other Inquisitions

ESG can drill away , drill away but the Market is King.
The market knows there is a lot of gas there as the 17TCF GIP figure has been around since the start.

The "P" means Commercial. The "C" means sub-commercial.
Unless we hear from Marubeni we will be getting some a lot more of the "C" and not much "P". Ideally Marubeni could do a MOU with ESG for 1mtpa 20 yrs and that would be a 1200PJ support for some more 2P. As it is the 2P total for the JV is 1522PJ and the Old powergen MOUs total 1700PJ so already there is good 2P MOU coverage, just 178PJ short. To get some more 2P we need movement on the LNG front or the GLNG talking a deal to Gladstone.

Now if ESG was part owned by Shell rather than the Santos
that would probably make a difference.

So all in all 80 is a solid rock of a ceiling at present.
A "High" Tintsfield flow rate at the next monthly drilling report will de-risk the old pump problems delays and other issues and the sp should get a boost maybe crashing through the 80. It is just that at present the market is wary and waiting for ESG to perform.

As one of our stellar posters has approximately said - only put as much money into ESG as you can afford to leave there and not have a need for any time soon!

I dont want to hear any more of those Opportunity Cost arguments - ESG is a Speculative Stock as we all have now agreed -- not an ordinary investment which normally pays a dividend or interest. A Simple Speculation. It has been A Milestone to reach that point of congruity between the BS Crew and the Rationalists/FOS.



Cheers