At present BG does not have 60% stake in QGC. AGL will only...

At present BG does not have 60% stake in QGC. AGL will only accept the BG offer if there is no alternative offer with higher price and condition. My guess is that BG probably got around 40% stake at the moment. The large volume in the first couple of days reflect the sales made by directors (including Elph pty ltd) and some retail investors.

BG offer values QGC P3 reserves at 80cents per pgl. Whilst other offers (Shell and Petronas) for a stake in AOE and Santos exceed $1.40. Also the offers for the AOE and Santos were made when the AU$ was around 80c+ to a US$ (or UK45p+). The BG Offer is made at a time when the AU$ is around UK 36p.