YT - I don't think you will see $2/GJ for 2P for these tenements for some time. Remember that the QLD tenements are close to existing pipelines (always consider how you get the gas to mkt) and current spot price for PRODUCERS is around $3/GJ. MEL are a long way off producing and it is unlikely their gas be used for LNG, which is the fundamental reason for QLD takeovers.
However!, if the mkt considers the recent power shortages in NSW and we see someone getting in there and building some gas-fired power stations, we could have a weiner young hot dog and perhaps your $2 call could be right.
In summary, until we some NSW takeovers (other than SGL) it is hard to ascertain a pric. Further to this CSG to domestic gas mkt is proven (sorry but this record is broken).
Keep posting mate. Good input
Actually ESG have more cash than that. They've done a capital raising and now have about $70m in the bank I think. Did you happen to read above that MEL have done a rights issue? Another factor to consider will be cash burn. Perhaps ESG needs more cash? Anyway, I'm sure you'll think of another way to make your choice of stock sound better. Good luck.
You sound like a very astute and learned fundamental analyst of O&G companies so I will definately be watching your posts closely.Cash = Out perform
From a breakout of a triangle the target is the widest distance of the triangle, which is about 30c upside. That makes 90c. Long way to go before breakout though. It's an ascending triangle (bullish) but it's still long term down trending, so probablilities are lower imo.oh yeah, got in at 0.465 yesterday, what price do you guys think the share will break out too? target?
Yep, it's looking really good, but that resistance is a challenge. My next buy will probably be off the lower support, or through 60, which should be a great oportunity.A strong finish today and moving awfully close to our 60c breakout target. Reasonable volume traded as well. Any comments from the chartists on the last week or so?
I'd love to see that 30c breakout materialise!
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Mexico holiday - Isla Mujeres
Yes, this is my second visit here, and first stop of the month trip. Will be coming back for the final couple of days as well. Awesome coastline all the way to The Bay Islands Honduras really. Like North Queensland except there are wide white fluffy beaches, the reef is closer, and you can get in the water without a stinger suit, nor worry about prehistoric reptiles hiding in waiting.Great place, I was there a while ago, I had a great time - so totally chilled... I'm very envoius. I may go back again some time and combine it with a road trip to the pacific... Puerto Escondido, one of my other fave places on the planet...
Yep, it's looking really good, but that resistance is a challenge. My next buy will probably be off the lower support, or through 60, which should be a great oportunity.
Have been chasing this critter since last thursday and she's hit turbo today
Guess its all the hoo haa! about SANTOS noticed ESG did well also
Ahh well waiting for a re-trace tomorrow ??
There goes 60c - will it hold is the next question. Looking at the chart (imo) this is just waiting for a breakout - rising support line - flat resistance, sellers being slowly weeded out - noting the congestion at 70-80c tho. Might need some positive news to move through that barrier.
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