mangelsWe don't know what's behind ESG's support for the merger...

mangels

We don't know what's behind ESG's support for the merger other than that they must believe the new board will do better and that OIP needs to diversify its assets and projects. I personally don't agree .. but then THEY know a lot more about 1)CSG 2)the O&G game 3) OIP prospectivity .. than I do. So I am not condemning them .. but rather i would like them to explain themselves and i will be asking them to do so at the OIP meeting (or before if they answer my emails).

There may be another agenda to do with maintaining OIP within ESG's orbit and hence retaining the strategic "control" of OIP's leases for the purposes of pipelines etc ... we just don't know. If ESG is unable to reveal such strategic considerations then we are left with only part of the picture to consider. I am sure than ESG would NOT be happy with OIP being taken over by OXX or anyone else for that matter! Still waiting for Holy's penny to drop ... and its getting late in the piece!

H