It's not all about dividends. This acquisition is a welcome...

It's not all about dividends. This acquisition is a welcome addition, less tied to oil price than the current assets.

I'd rather see Santos get some protection from oil price shocks (either low cost production or markets not tied to OP) then to pay dividends just to raise the next oil price hump. Santos just doesn't have the margins to pay high dividends and invest in growth through the cycle, if you want that look to WPL. STO is a different beast, lower margin, needs some better assets to make sure they generate cash throughout the cycle, this acquisition is a good start.