grandbridge (gba) pep11/ advent ugly duckling, page-6

An interesting excerpt from Todays Australian newspaper regarding ESG and Newcastle

"Sydney-based Eastern Star, 20 per cent owned by Santos, wants to start exporting 1 million tonnes of LNG a year from a $1 billion processing plant at the port of Newcastle by 2014. It declined to comment Monday on whether Santos intends to participate in the placement.

The company also said today that it has agreed to acquire a 24 hectare parcel of land on Kooragang Island, Newcastle for $25m plus "pre-transaction costs" and taxes."

Timing with pep11 success would be good all round for Newcastle.