for info Letitia Kemister From Tony Pickard - presumably a response to the published celebrations seen of CSG/Lock the Gate people waving their hand in air, seemingly celebrating reports of Santos withdrawing from Pilliga. Santos is in negotiations with gas buyers, manufactures and international companies as it seeks to sell about 30 per cent of its proposed $2 billion Narrabri coal seam gas venture in NSW. I wonder if this is now the verification of what Mr P Mitchely was referring to on the ABC News back on December 18th 2014. When he said Santos had had two offers but rejected both because they were too low. From the wording which states specifically Narrabri coal seam gas venture in NSW , Santos is wanting to sell down its stake in PEL 238 and NOT the Narrabri Gas Project, especially when look at the supposed value ($2 billion). In other words looking for a party to eventually take PEL 238 off Santos’ hands once the NSW Government gives the Narrabri Gas Project the “Green Light”. Without that approval Santos will not get anywhere near the almost $1 billion that they paid Eastern Star Gas let alone $2 billion. No wonder Santos is now doubling the paper worth of the project. Got to get a sucker from somewhere that has not read the Financial Status of the PEL. Still some overseas companies are not all that worried as to how much they pay now, for most look to the future and exporting all the product.
Posted on: Thu, 22 Jan 2015 14:06:37 +0000
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