you beauty - new gas agreement glng, page-73

Yes PSI,

It has been widely known for some time that GLNG was short of reserves.

The whole Eastern Star Gas takeover was a certainty on the back of SANTOS being short.

Big problem was the spineless NSW government locking away all of ESG's gas.

Could have been a blessing in disguise however as we now have this deal on the table.

Thanks for clarifying what you meant by SANTOS and their "tight fields".

For Westside, it all comes back to the fact they are proceeding with development on a shoestring budget. If the likelihood of a crap result from field development was high, I'm certain Rob Neale & John Clarke would have had a few dances with this latest Chinese takeover offer @ 36cents.

"manifestly inadequate" means they all have full confidence obtaining the results from this Meridian field development.

They didn't even talk to The Chinese. Yeah, sure it wasn't a real bid anyway but you can bet your bottom dollar Westside would have turned it into a real bid or at least tried harder to turn it into a real bid if the field was at risk of not performing / crappy.

The last couple of months was a real test of the truth. What did management really think of this field? If it was crap, they would sell us out cheap (and had the opportunity to do so). If it was a certainty, we would go full steam ahead and tell The Chinese to bugger off.

So now we have a situation of temporary limbo where the shares for sale are super cheap as a ratio of the upside.

My sentiment is a firm buy and if I didn't have any shares, given what I know, I would load up ;)

Join the dots,

Cheers,