QGC - Queenland Gas Company

[malachii]

Been following this one for a while - had a good run up to now - although that is being driven by the fact that if you're a shareholder before 11/2 you will be allocated shares at 25 cents. Also had a great announcement today.

Anyone else follow this one. Any guesses how the share price will be affected once the share purchase plan finishes?

Malachii

 

[RichKid]

Re: Queenland Gas (QGC)

Price is sure to go down to near pre-issue price imo. Only question is how far? Price for share issue is very attractive but I'll probably look to buy in once the full effect of the dilution is apparent, especially at these hyper inflated prices, it'll come roaring down next week once the entitlement ends. Although, positive anncts may keep the price a bit stable. I must say I like QGC long term, congrats malachii on picking a nice one!

 

[RichKid]

Re: Queenland Gas (QGC)

Well the drop has started, a bit slow but should gather momentum as current holders may have to sell shares to fund the placement costs.

 

[malachii]

Re: Queenland Gas (QGC)

I have to admit I was expecting a much greater drop - maybe people dont realize they needed to buy the shares yesterday to be a part of the placement? Althought most of the trades today were of a larger size - not the 1-2000 shares we've been seeing over the last few weeks so who knows.

Malachii

 

[RichKid]

Re: Queenland Gas (QGC)

Yes, a bit odd, but that's the market, we never really know what's going on. The smaller parcels previously would just have been new buyers getting a holding to attract the entitlement. There would be some buyers who haven't looked at fundamentals at all and just bought thinking the price would keep going up (ie didn't know of the share issue). There will also be people who are averaging down. It may drop steadily and then sink fast and recover quickly (or it may not), not sure how far down it'll go but it should go below 40c imo.

 

[malachii]

Re: Queenland Gas (QGC)

Richkid

Did you check this one today - it's up to 60 cents!!! I just dont get it - not complaining though.

Malachii

 

[RichKid]

Re: Queenland Gas (QGC)

It's the announcement of gas flows, that was the only thing I could think of that would keep it high (ie positive anncts). I'm not holding yet but it's good to see someone's doing well out of it!

 

[RichKid]

Re: Queenland Gas (QGC)

Looks like the good news keeps flowing, really supporting that sp, the co has certainly timed things well to keep the effect of the new issue to a minimum.

 

[malachii]

Re: Queenland Gas (QGC)

Still cant believe this one is holding around the high 50's!!!!

Tech if you happen to see this I wouldn't mind an unattached traders opinion of how you see this one.

Malachii

 

[tech/a]

Re: Queenland Gas (QGC)

Unattached---there are times I wish I was!!

 

[malachii]

Re: Queenland Gas (QGC)

Thanks tech - the unattached part is pretty hard for me too!!! I find I'm unattached until the second I push the buy button and then all the best intentions are out the window. I'm pretty lucky in some ways cos my wife is my stop loss. We have alerts sent to my wifes mobile and if one goes off - she sells it - she has no idea what the share actually is and if we made a profit or not but she knows that when that alarms goes off she sells the share. I'd like to say it's a fool proof system but it's the best we've come up with yet!

Malachii

 

[RichKid]

Re: Queenland Gas (QGC)

Seems to be continuing down, has broken that primary uptrend support line (just hanging around below it atm) and headed for support around 42c (previous resistance). If it breaks that then I expect it'll linger a bit more in that congestion area in the high 30's. Early days yet, the next major annct may send this up again but I think they've finished drilling for now- or am I wrong?

 

[RichKid]

Re: Queenland Gas (QGC)

Read the annct? With the co stuffing up allocations I reckon I'm lucky I stayed out of this one, people will still make a decent profit but not as much as anticipated. Big fall today and heading downstream again. Let's see if they can sort something out with ASIC/ASX. Still a great co for the longterm but I'm going to wait till this bottoms and recovers. Drilling is done as well so no near term drivers.

 

[suzanne]

Re: Queenland Gas (QGC)

Hi Guys,

Any one still following QGC. Do you think we are going to see some action soon.

What are your thoughts.

Suzanne

 

[Sea Dog]

Re: Queenland Gas (QGC)

I am disappointed with the measly allocation of shares ( SPP ) - I am awaiting news of the 2nd SPP announcement especially the price that QGC decides to set for it. I had bought QGC more as a speculative stock after having read a report by Wilson HTM Securities in October 04 - Considering that all of their announcements so far hve been positive I shall be holding on to QGC for some time to come !

 

[RichKid]

Re: Queenland Gas (QGC)

I am disappointed with the measly allocation of shares ( SPP ) - I am awaiting news of the 2nd SPP announcement especially the price that QGC decides to set for it. I had bought QGC more as a speculative stock after having read a report by Wilson HTM Securities in October 04 - Considering that all of their announcements so far hve been positive I shall be holding on to QGC for some time to come !

Yes, looks like a good one for the long term. The SPP plan results were shocking and now there'll be another one which'll drive the price up and then down again, a bit expensive for the co but longterm holders will be ok. I'm still bearish short term, maybe another down wave or two to go?? Depends on the spp2 timetable and details.

 

[RichKid]

Re: Queenland Gas (QGC)

Looks like a saucer/rounding turn and now retesting the lip again. Anyone else watching?

 

[skin]

Re: Queenland Gas (QGC)

From a Distance - have a position and in the for the long haul,

 

[GreatPig]

Re: Queenland Gas (QGC)

Had some a little while ago for a short term trade and made a reasonable return on that last rise. Don't have any now though.

Cheers,
GP

 

[RichKid]

Re: Queenland Gas (QGC)

The pattern of the last couple of weeks appears to be a bullish wedge, now near support so it's getting interesting. Valuations I've seen via brokers (reports on co website www.qgc.com.au) on a conservative basis range from 52c to 67c. They have recently finalised credit arrangements and have completed capital raisings so no further dilution expected.