Australian (ASX) Stock Market Forum

ESG - Eastern Star Gas

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grace said:
Current market cap of $600million odd. Plenty of upside.
Click to expand...

A great announcement - they must be getting some good flow rates and dewatering to be raising those figures that much.

All the right ingredients this co. - rerating will continue to occur over the next 12 months. Slowly but surely.
:)
 
Good luck to all the holders of ESG............

The presentation talks about an in place estimate reserve of 3675PJ. Lots of work and time required to convert part of this into a bookable number. Page 15 of the presentation offers more insight regarding timing.

Bill

(I do not hold)
 
Very good news indeed :D :D

i also note SANTOS has upgraded their resource estimates for the Gunnedah basin could be a prolific area stated in SANTOS report

Gunnedah basin quoted as the biggest gas resource estimates in Australia to rival the Gorgon gas project in WA ??
40 trillion cubic feet ??

I have not checked this though if someone could check SANTOS out ?
it would be great

i'll post the media link in the morning

otherwise it sounds like ESG tennanments in the Gunnedah may be quite prolific

And it will be a interesting day tomorrow :D
ciao K B
 
Thanks Jim

If the Gunnedah basin turns out to have the motherload as SANTOS suggests it may ? :D

Now theres talk of a new LNG port in NSW ? :eek:
It may have come from that SANTOS report ?
If someone could check it would be great

If this is the case ?
We imo wont have to worry about an over supply = export $$$

Will this find effect QGC plans to pipe gas into Sydney ?

Also talk today of the Rudd Govt announcing tax breaks
Re wanting a BIG ramp up of Gas production for Australia and new LNG plants for export $

I just hope ESG doesnt get swallowed before we see its potential ?
As we all know SANTOS has plenty of cash

See how we go today as oil dropped last night !
 
kingbrown said:
Thanks Jim

Now theres talk of a new LNG port in NSW ? :eek:
It may have come from that SANTOS report ?
If someone could check it would be great
Click to expand...

LNG port for nsw???? Where did you hear or read that?

If it says Newcastle, then I'll be doing this.....:alcohol::jump:

That would be huge for ESG but haven't they signed up their gas for the two MOUs already in place....:confused:
 
its in the Australian paper

Lng or being piped at least its spawned an idea ?
Not time to pop the corks yet

Re SANTOS chief

Speaking at a four-hour investor briefing, Santos acting chief executive David Knox said it was too early to say whether an LNG plant in a port such as Newcastle was being considered, or whether it would be better to pipe the gas to Gladstone or supply the NSW domestic market.
 
the rerating has continued for this stock on a day when energy stocks were slapped about.:eek:

It did close to 10m shares traded today and you have to begin to wonder at what point this takes a breather.:bloated: The more this continues the more likely the speculation of a predator taking a position on the register.

Ingalls safe, Truenergy safe, Hillgrove safe, Management safe.

So really any threat of of a predator will have to come from on-market buying it would appear, which might explain the upward march.

Or I could just be simply wishful thinking and it is people buying on the announcement out yesterday with their 2p target for end 09.

What are other thoughts??
 
Your right Jim on a bad day for energy stocks
Esg ran hard to 90 on the open with large turnover

Then pulled back
I had a cunning plan to grab some near the close :cautious:
But i wasnt the only one and the buyers returned in full force :mad:

So we do know large punters are watching this stock
she closed up around 5% @ 86.5 :D
Some buyers were grabbing multiple 100,000's units in the morning trade

Would be intresting to check out the share register

I think we would have seen Esg hit mid 90's even the magic $1 if it wasnt a bad day
still happy though :D
Go the Star !!
 
kingbrown said:
I think we would have seen Esg hit mid 90's even the magic $1 if it wasnt a bad day
still happy though :D
Go the Star !!
Click to expand...

I hope she keeps going. I tripled my holding yesterday after the new resource targets were announced. Market didn't seem to respond straight away, so I thought it was a buying opportunity.

A few more days of high volume should clean out some more sellers.

Here is a write up in The Australian a few days ago.

FORMER deputy prime minister John Anderson has big plans for coal seam gas minnow Eastern Star Gas.

The company will become "a very, very big player on the east coast, and in particular the biggest in NSW, because of where we are", says Mr Anderson, who is chairman of Eastern Star Gas.

"The fact is, we have location, location, location. There is very little NSW-sourced gas."

Shares in the company -- based at Narrabri in north-east NSW, where it taps into the Gunnedah Basin -- have more than doubled in the past six weeks, to close at 77c yesterday.

"Although we are the biggest state, we are a minuscule user to this point in time of gas. Our objective is to change all of that."

He is acutely aware of the great interest in the sector.

"Everybody is suddenly very interested in us, including the big players."

He describes the company as "an up and comer, in the sense that we are a little behind the Queensland operators, maybe two years behind".

He says the company has "a proven, a probable and a possible 1300 petajoules".

"What the market has twigged to is that generally speaking the possibles rapidly become probable and then proven."

Mr Anderson says the coal seam gas sector is one where "reserves rarely disappoint".

With all the activity further north, the company is aware it could be vulnerable to takeover.

"In the current market you would have to assume there are all sorts of people doing all sorts of maths and study, and you wouldn't know what might happen," Mr Anderson said about the possibility of a takeover.

It is understood a hostile takeover would be hard to launch, with most of the shares being held by the board and company personnel.

However Mr Anderson has no shares in the company. Mr Anderson says Eastern Star Gas has put together what he describes as the leading team of experts and technical people in the country.

"And the company is very keen and I am very keen, as chairman, that this is the right thing to develop these resources. We have every intention of pushing on ahead ourselves.

"Every other day somebody wants to talk to us about gas to liquid, with the concerns about oil prices. We have the real opportunity to sell into an expanding energy market, or power generation market that is looking for cleaner sources of energy."

Eastern Star Gas has two memorandums of understanding, one with Babcock & Brown, and one with Macquarie Generation.

"Now if they are brought to fruition, we will be the largest supplier of gas in NSW."
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there is also the Linc merger with Sapex.:eek::eek:

Should be good to see what Linc propose in terms of what happens with the ESG farm-in (25% stage1, another 25% stage 2).

David King is on the board of Sapex. That is the link (NO PUN!) with ESG.

cheers.

I look on with interest.:D
 
Jimminy said:
there is also the Linc merger with Sapex.:eek::eek:

Should be good to see what Linc propose in terms of what happens with the ESG farm-in (25% stage1, another 25% stage 2).

David King is on the board of Sapex. That is the link (NO PUN!) with ESG.

cheers.

I look on with interest.:D
Click to expand...

Yes, I'm trying to get my head around the LNC/SXP merger (I hold both) in relation to ESG (I also hold).

Given that the Directors of ESG also have large holdings in SXP, I'm wondering how ESG fits in with the whole thing and their approval needed given their holdings in SXP???
 
grace said:
Given that the Directors of ESG also have large holdings in SXP, I'm wondering how ESG fits in with the whole thing and their approval needed given their holdings in SXP???
Click to expand...

I don't hold Sapex, but I hold the other 2.

I think Pat Elliott might hold the ace here. He holds close enough to 20% of the co. and he would have held them over 12 months now.

One can only assume the scheme of arrangement they come up with will make every one happy and is possibly why ESG finished on an all time high close today.

It's hard to see how else it will work. Whatever Linc is proposing will need to satisfy David King & Doug Battersby from the ESG angle.

Those 2 have made some serious moolah in the last month!!
 
Good work Jim
The QGC takeover of Roma Petroleum looks set to fly through :cautious:
See some news reports below

Herald article Re : Coal Seam Raiders

Brad Partridge at Macquarie Private Portfolio Management, said the dollars being thrown around had sparked a "land grab" for coal seam gas reserves.

"All of sudden these assets are being perceived to be of higher strategic value than the market was giving them credit for . . . and there's a lot of smaller companies that are kind of sitting in that sweet spot where they're not really wedded to any big player yet and may be open to consolidation," he said.

Mr Partridge said companies such as QGC, which has a partnership with BG Group to develop an LNG plant at Gladstone, would be particularly keen to bulk up their coal seam gas reserves.


Full story http://www.news.com.au/heraldsun/story/0,21985,23843837-664,00.html

http://business.theage.com.au/coal-...nite-qgcs-interest-in-roma-20080610-2okh.html

Question is !! who's next :confused:
 
kingbrown said:
Question is !! who's next :confused:
Click to expand...

I will declare my interest in Blue Energy.

BUL is the one sitting pretty. It will run further still imo - all ex-QGC gurus that helped Cottee become what QGC is today.

And BUL have large tracts of land in the rights places.;)

cheers.
 

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