ESG - Eastern Star Gas

growing · 24 September 2009

malachii said:
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

Don't worry I'll take it as just a theory but it is also my opinion that you are spot on.. makes a lot of sense to me 1) it can only go down through massive selling pressure 2) for sudden downward movements like this, it is more likely a smaller bunch of investors selling a LARGE amount of shares and needing to do it in a very short time span -- end of Quarter is an excellent motivator.

Faceless investment don't necessarily care about pushing the price down in fact they are just averaging down and most probably purchased a stack when this stock was much much lower -- hence they don't particularly care. Time Deadlines mean more.

Recovery would be in my OPINION, a certainty, given the INTRINSIC value bestowed by the SANTOS purchase so no need to panic *meh*

jancha · 25 September 2009

pointr said:
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

Pointer
Think tank might be the appropriate word now dont you? Down to 88c from a high of around $1.15 in last month. If thats not tanking was is?

Dukey · 25 September 2009

jancha said:
Pointer
Think tank might be the appropriate word now dont you? Down to 88c from a high of around $1.15 in last month. If thats not tanking was is?

starting to look like pretty damn good value would be the words I'd use.
I had bought just over a dollar with stops just under. They were triggered but thats fine. I'll buy more when the turn up comes... as it inevitably will. If ESG reach their reserves targets they will be in the region of a 2B$ company if memory serves correctly - depending on how you value the 2P/3P reserves.

pointr · 25 September 2009

Hi jancha, yeh it probably fulfils many definitions of tanking currently. Technical analysis and the associated decision making are a breeze in hindsight. Ive got to finish this post now, the salt you have poured onto my wounds is causing my portfolio atrophyto act up

zumz · 28 September 2009

Possibly you are right Malachii. THh quarterly report is imminent. Maybe there is some bad news in it!!!
However, this is a quality stock and will bounce fairly quickly. Most energy stocks have dropped recently but gas stocks will continue to be in most people's portfolio.

growing · 30 September 2009

Start of the new Quarter tomorrow .. People seem to be buying back in - I wonder if there is a correlation ?

All my Energy stocks are heading up again but ESG is heading up solidly again $.93 - $.94 cents

jancha · 4 October 2009

growing said:
Start of the new Quarter tomorrow .. People seem to be buying back in - I wonder if there is a correlation ?

All my Energy stocks are heading up again but ESG is heading up solidly again $.93 - $.94 cents

And back down to 86c. I know the market took a bit of a beating but ESG took a belting. Small buyers as opposed to some large sellers in volumes. If this share is value buying then i wish some serious buyers would come back into it. Still holding but as to why its on the slide who knows.

Semillon · 5 October 2009

Looks like we had confirmation of a reversal today, despite overall market volumes being well down due to the NSW bank holiday and no lead from the US.

I would expect the share price to test new highs above $1.10 within the next 2-3 weeks.

pointr · 6 October 2009

Currently Macquarie Ganeration is getting public comment on its proposed "Bayswater B" power station for Muswellbrook in the Hunter Valley. It's 2 choices for fuel are coal or gas, gas having half the greenhouse emissions of the coal option. An article in todays Newcastle Herald states "Gas fired generation was increasingly viable following the development approval of the Queensland to Hunter gas pipeline. Should this proceed I would see this as a positive for ESG, particularly as it has MOU's in place with Macquarie if my memory is correct.

growing · 6 October 2009

I wonder if the interest rate rise will have any effect ?? The market opened strongly then collapsed most of the day .. Our Dollar is stronger on the back of higher rates but why sell off ESG ??

Surely higher rates means a stronger economy ?

pointr · 7 October 2009

You would think so Growing, we invest in companies but to a degree we are also investing in other buyers opinion of these companies because that is whats making the current price. There are plenty smarter than me out there in the market, but at some point you would think a company turning a large geological entity into an energy resource in Australias most populous state would have to be onto a winner. I think the general trend is going to be upward but who knows how many fluctuations there will be along the way

redsmartie · 9 October 2009

ESG is below $1 :eek3:. The market has gone sentimental on ESG. A bit of tongue wagging in the consumer market area could have ESG going up again. It's many Pilots cost $$$ and this reflects in the share price is my guess, but in the end ESG has got a lot of real estate pegged out so it's a slow stock, the location of the ESG resource certification is nice.

jancha · 23 October 2009

redsmartie said:
ESG is below $1 :eek3:. The market has gone sentimental on ESG. A bit of tongue wagging in the consumer market area could have ESG going up again. It's many Pilots cost $$$ and this reflects in the share price is my guess, but in the end ESG has got a lot of real estate pegged out so it's a slow stock, the location of the ESG resource certification is nice.

Share purchase plan @ .85c ps Max $15,000. In order to speed up drilling? ESG should drop from their .95c with this. Soon you'll be able to trade them the 10% discount.

growing · 23 October 2009

jancha said:
Share purchase plan @ .85c ps Max $15,000. In order to speed up drilling? ESG should drop from their .95c with this. Soon you'll be able to trade them the 10% discount.

Well worth it when SANTOS pays $1 a share In my opinion of course.... There was a big article on Catalyst last night about Coal Seam Gas - an interesting segment. The government have invested A LOT of money in the industry Emissions are 50% of traditional Coal Burning technology, as people have said this is an excellent long term stock - stay in it until SANTOS takes it over 100% I reckon

jancha · 27 October 2009

growing said:
Well worth it when SANTOS pays $1 a share In my opinion of course.... There was a big article on Catalyst last night about Coal Seam Gas - an interesting segment. The government have invested A LOT of money in the industry Emissions are 50% of traditional Coal Burning technology, as people have said this is an excellent long term stock - stay in it until SANTOS takes it over 100% I reckon

Well with ESG currently @ 87c the share purchase plan is hardly a bargin price @ 85c. Do you think there could concern of a market correction? If so they'll continue to fall.

pointr · 28 October 2009

Sorry jancha, my crystal ball is currently broken so I'm not sure what the future will be for ESG short term. I'm not taking shares up in the SPP, my spare $$''s are needed elsewhere at present. On the subject of SPP, I noticed an old check butt the other day where we bought MPO several years ago via a SPP. Looking back now the price paid is a pittance compared to their current price even allowing for consolidation they did some time ago. My long term view of ESG is positive however any delays in pilots or reserves certification, or general market downturns, if they occurr may present short term buying opportunities

vicb · 19 November 2009

Out of interest did anybody take up the SPP?
I sold out and waited to see what the price would end up on the closing day.
In the end I just could not bring myself into participating in it.
Will look at it again after the new shares hit the market.

grace · 19 November 2009

vicb said:
Out of interest did anybody take up the SPP?
I sold out and waited to see what the price would end up on the closing day.
In the end I just could not bring myself into participating in it.
Will look at it again after the new shares hit the market.

Yes, I took some up. Reserves upgrade not very far away. A few technical glitches holding it up at the moment, but it will be good IMHO based on pilots.

skc · 19 November 2009

grace said:
Yes, I took some up. Reserves upgrade not very far away. A few technical glitches holding it up at the moment, but it will be good IMHO based on pilots.

Why didn't you just buy on market? I don't see a VWAP based discount to the SPP?

grace · 19 November 2009

skc said:
Why didn't you just buy on market? I don't see a VWAP based discount to the SPP?

They didn't offer BPAY etc. So it was chq and snail mail. As I live in the bush, the day I had to post it by, the stock was trading at higher than 85cents. I recall the SPP was at 85cents - no brokerage. I wanted a few more anyway, and will continue to buy, if it drops......please.

ESG - Eastern Star Gas

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