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ESG - Eastern Star Gas

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or they could merge/take STO and get 20% of ESG on the way. i think something like this will have to happen in the next two three years.... or possibly ORG - they've amassed a bit of cash, wouldnt be a surprise
 
swm79 said:
or they could merge/take STO and get 20% of ESG on the way. i think something like this will have to happen in the next two three years.... or possibly ORG - they've amassed a bit of cash, wouldnt be a surprise
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A merger is possible, but with STO's market cap being twice that of AGK, I tend to think a takeover is not in the cards. Though, I'm with you 100% that some corporate consolidation is going to take place among the bigger players.
 
Today closed at 1.03 with the share price finally making the area above 1.00 then making a funny pattern. Esg is still a long term stock for this person, what's interesting is the chairperson on this board is an ex deputy PM. I think ESG having Santos as a 20% holder basically placed this stock code out of the little league and you would have to pay dearly if you said takeover this baby. :nono:
 
Todays bimonthly drilling report seemed to me 'steady as she goes' progress. The one little 'gem' was:
"The well also intersected a total of 37.6m of net coal within the Maules Creek
Formation, including 35.2m of coal within the Bohena seam."
The report stated that this was the thickest ever intersection of this seam in this PEL. One would think that finding 35mtrs of coal in one seam would be a positive ,and I'm sure it is however the SP was down 2cents when I last looked.
 
Holding Strong at the $1 mark yet broker reports expect a target of $1.18 - $1.40 .. All Ords heads up while this stock tanks -- what gives ???

 
Well tanks might be a fairly strong word for fairly mediocre price action. My is ESG drifting lower and doodling around until the next significant piece of news or activity in the sector. Some things of future interest, i)the reference to an independent review into LNG feasability at Newcastle,ii) reserves status and the performance of pilots post 'shield wells',iii) the next corehole following on from the one a fortnight ago showing much thicker coal development than has been previously found. So to me there is plenty happening at ESG's projects just not enough to make buyers commit. The support at $1.00 seems to be developing. I'm much happier watching it go up than down
 
I saw a digram showing how NSW is importing its GAS from South Australia down this one HUGE pipe !! After reserves are sured up, SANTOS will unquestionably want 100% of that GAS to feed the growing NSW gas market

So long term, long term - Might as well go away for a long holiday while we wait for it all to happen - lol

And yes "tanks" was too harsh a word to use
 
A couple of big orders in both the buy and sell early this morning. Maybe an interesting open, could see an increase in Volume for the day.
 
Just curious: is there a level at which you will stop watching it drift downwards?
(I don't hold this.)
 
I don't think it's time to hit the PANIC button yet.
It's par value is around the $1.00 mark, as that's what STO paid when they purchased HGO's interests in ESG not long ago.
 
DVEOUS said:
I don't think it's time to hit the PANIC button yet.
It's par value is around the $1.00 mark, as that's what STO paid when they purchased HGO's interests in ESG not long ago.
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I agree, too early for a panic button the patience button might be a smarter button to press

 
Hi Julia, a good question "Is there a point where I would stop watching it drift down". Probably no, I think there is a good long term story here, and based on my previous buy and sell decisions I've been an investor more times than I've been a trader
 

Just when you take your concentration off these coal seam gas stocks, they seem to take off, or get taken over. I'm content with it forming a $1 base, with reserve upgrades coming before Christmas. Ideally though, I would love the market to tank so I can pick up more at 20cents. Keep dreaming...
 

Here's a chart - nice base forming at $1.00. I don't really have much else to say, other than ESG remains the takeover target of STO, and always has been. Just my opinion of course...
 

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grace said:
Here's a chart - nice base forming at $1.00. I don't really have much else to say, other than ESG remains the takeover target of STO, and always has been. Just my opinion of course...
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check out this map I was talking about from one of the latest ESG broker reports:



Santos WANTS what ESG have
 

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Oh well, the $1.00 support level has been bade farewell, now down to the mid 90 cents level. Where has the smart money been? selling or buying, perhaps it depends on your time frame, or am I just comforting myself with this potential delusion.
 
pointr said:
Oh well, the $1.00 support level has been bade farewell, now down to the mid 90 cents level. Where has the smart money been? selling or buying, perhaps it depends on your time frame, or am I just comforting myself with this potential delusion.
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RBS Morgans put a recommended buy on ESG. That could explain the down turn. Hold or not to hold that is the question.
 
jancha said:
RBS Morgans put a recommended buy on ESG. That could explain the down turn. Hold or not to hold that is the question.
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Isn't a recommended "buy" a good thing ??

Surely the price should rise on that news .. Maybe there is a big investor bailing out for a reason only known to them ?

Look at the buys and sells ratio: 1 Million odd units to buy against 7 million units to sell !!

Anyone picking up this stock is buying better than SANTOS -- Maybe investors are falling asleep at the wheel

 

Quite often when one of these brokers recommend a buy they generally go down. Hence when they recommend a buy you sell & when they recommend a sell you buy. It just goes to show they don't know what they're talking about. WPL was a sell not that long ago. Look where they are now. They get it wrong more often than not.
 
pointr said:
Oh well, the $1.00 support level has been bade farewell, now down to the mid 90 cents level. Where has the smart money been? selling or buying, perhaps it depends on your time frame, or am I just comforting myself with this potential delusion.
Click to expand...

Take what I say with a bit of caution as I have just lost on a short term trade with this one so it is a bit of a sore point for me (didn't obey my own rules ..... DAMN - always costs me when I do that - you'd think I'd learn after this many years!!).

I THINK you may find this is started as end of the quarter selling by some large holders. This one has run pretty hard over the last 3 months so I THINK that "they" maybe adjusting their holdings before reporting their quarterly figures at the end of September. I THINK this has also combined with pushing the price through the psychological $1 mark and triggering a lot of stops has continued the push down. I THINK that it will start to push back up after the end of this week.

You may have noticed a lot of I THINKs in the above statement. This is only my opinion/thoughts. Please do not base any decisions on it. DO YOUR OWN RESEARCH!!!

malachii
 
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