Another bid coming?, page-50

Very true that many will wish no foreign full ownership of STO. However, years ago STO had ownership protection clauses which eventually the Board rescinded. Also they had many times looked at buying and took stakes in Sagasco. This ultimately became Origin from memory. So is political interference good or bad? STOs major decline over the last 2 or so years was due to poor financial decisions as a result of falling prices and overleverage on the processing facilities in Qld. I thought that they had stuck to their knitting and sold forward a lot of the gas to come out of those facilities. Clearly they did not and the capital costs exceeded what they thought. STO always dealt on long term long pricing gas supply they changed that modus operandi with the Qld investment. Wells in the Cooper are shallow and cheap but have less resovouir but still generate in excess of 12.5% return on capital. That is good so long as you can continue to invest the returns at such a return ie reinvestment risk. Now the question is are the Qld processing assets worth more than what STO has invested to to make them a reality? Maybe the company should again spilt itself? Cooper Basin processing and QLNG processing are very different beasts. C
Has STO stitctched up long term international supply agreements and if so what is the pricing on these agreements because that is now the true upside value in STO. Is this above or below current market prices?