QGC - Queenland Gas Company

[kingbrown]

I am a holder of QGC and ESG. I note that ESG also have plans to supply NSW (just a little behind QGC one would say). The pipeline seems to be running right past ESG fields though. I find that interesting......... They were also planning a new pipeline. Anyone else care to comment?

RE ESG Eastern Star Gas
Hello Grace
Iam also a long term holder of ESG
After QGC announced its pipeline and gas fired power station proposal
ESG then had a real run today much more than QGC did

After looking at QGC pipeline map it appears to run right through some ESG csm acreage ?

With ESG csm reseves close to market
would QGC contimplate buying up ESG ?
as ESG is already close to the market, and has a small gas fired power plant


Also any comment on ESG price graph if iam reading right ?
ESSG released news yesterday see link
Projection at around $2.80 ?
Closed today at .74 i think ?


http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=ESG

Let me know if any one else thinks ESG has potential or not ?
Or if you think QGC has plans to aquire ESG ???

 

[malachii]

I've read a few of the comments about QGC acquiring ESG or SGL and I maybe wrong but I cant see it. In the last report QGC sent out (1/2 yearly I think) they included a "History of QGC" advertising booklet and it included a section about the SGL takeover. They admitted that it had only really been a stunt to try and stop the takeover of QGC that was going on at the time - worked too!!.

QGC have pretty accurately set out their goals for the next 5-10 years. They are building the pipeline to move the gas they have into a "higher priced market", they have large tracts of land they still haven't started to explore and already have large amounts of firmed up 2P in the ground. Not sure why they would want more at this stage (they always said it was much cheaper to explore their own ground than buy some elses - only costs 3c per GJ). They are saying they have more than enough for any short term needs/sales and are in the process of proving up 3P reserves to provide for the export with BG. In fact at the phone-in talkfest they had a couple of months ago they were saying they would need to lock up any new gas they proved up due to concerns of flooding the Aus market and driving the price down! Their next stated expansion is looking at overseas ground to try and get some exposure offshore.

Their expenditure for the next 5 years is pretty big too. Not a great deal of "excess" available to spend on acquisitions. Having said that they took a stake in VPE(?) early this year and haven't stated why - got a feeling though it would be for their stake in the Surat Basin.

Like I said - this is my opinion only and as my wife will tell you - I'm quite often wrong!!

PS I hold a stake in QGC and ESG!

malachii

 

[laurie]

wow up over 11% to $6.39 a .59c rise boy lucky i have my seat belts on there is so much going on in this sector its hard to tell what is pushing the CSM players up and we haven't even talked about price increases for gas best investment I ever made for .51c

cheers laurie

 

[Eddyl]

Anyone slightly disappointed in QGC performance over the last couple of weeks or so. Considering all the hype around CSGer's recently, with QGC being at the heart of one of the largest announcements, the market hasn't responded too enthusiasticly.
All things considered:
1) QGC is one of the only CSGer's to have fixed contracts.
2) Plans to export and harness higher global gas prices with the BG deal.
3) Great tennements in perhaps the most prospective area for gas in the Surat basin.
4) Building nsw pipeline to harness the benefits of arbitrage between gas prices in QLD and NSW.
5) Experienced management team.
6)Proven record of successful development. Just look at the company three years ago.

All in all, I am at a loss at the moment, why people seem willing to jump onto any CSGer at the moment with all the hype. But there seems to be lower volumes of excitement(reflected in higher prices), in one of the best CSG companies from a fundamentally from my perspective.

Anyone else have any opinions on this?

I disclose holdings

 

[Dukey]

Man!!
QGC shareprice has gone up ~100% from Dec-Jan levels
- up almost 50% from previous high levels in Feb 08.

thats not too bad in my opinion.... you can't expect 10% rises everyday... I'll be quite happy to see a strong support base here around $6, before the next jump...

AOE sp is only just now starting towards catching up with the gains made by QGC.


all just my

 

[TheAbyss]

If you hav eholdings in QGC you already know that they are leaders not followers. Your Sp increase has happened and the rest are catching up as 2nd and 3rd tier players.

QGC as Dukey rightly says is now setting up a new platform prepatrory to its next steps.

Lap it up while you can as they won't stay at these levels in my opinion. Others, whilst they are more dramatic are a lot thinner so may retrace quite a way once the heat wanes a bit.

Qgc are a price setter not a price follower so be comfortable in the knowledge you have something you can bank on. Go get a ML against your QGC and buy others if you feel the need to take more risk for faster profit.

 

[Eddyl]

Abyss and Dukey,

I like you am very confident in the companies ability to turn a profit in the long run. Like I mentioned before I believe it to be one of the most fundamentally sound CSGer's trading on the ASX at the moment. However, I guess my question is around why all the other CSG companies seem to be running hot at the moment, despite their realtively speculative nature, whilst QGC, despite featuring in one of the largest announcements to the media has been relatively subdued?

Cheers

 

[oldblue]

There's an element of " Buy the rumour, sell the fact" here.
The market knows, or thinks it knows, what QGC has to offer: now it's looking for the next good thing!

 

[Dukey]

There's an element of " Buy the rumour, sell the fact" here.
The market knows, or thinks it knows, what QGC has to offer: now it's looking for the next good thing!

and given todays news re getting shell on board, thats likely to be AOE for the moment.... till the next next good thing comes along.!!

 

[Eddyl]

Good point Dukey and Oldblue,

QGC seems to be one the most consistent of the CSGers. Its good to see actual developments underpinning price rather than speculation. Kind of like the hare and tortoise I guess.

Another good example of the excellent management, and continual progress today:

http://imagesignal.comsec.com.au/asxdata/20080604/pdf/00848286.pdf

Anymore exploration in the Surat Basin is good news. Perhaps the best acerage for CSG gas. I guess as opposed to PES or any of the other CSGer's with huge acerage, QGC policy of persuing quality of quantity should hopefully pay off.

 

[Tysonboss1]

I am thinking about selling 1/2 my QGC today at $6 and putting part of the money into Arrow and rebuy qgc if the price retreats,....

Glad I didn't listen to the nay sayers,..

QGC down,... AOE up,..... I rebought some qgc today at a big discount to last week,..

 

[kingbrown]

Hey Guys
If you do anything today
Check ESG as they are predicting a big upgrade on reserves

Also it appears SANTOS has upgraded their estimates by a truck load in the NSW Gunnedah basin

Do some numbers see if it works that all ?
would like to hear some more opinions on the NSW scene

Also will this effect QGC share price re new pipeline proposal ?

If it takes off you owe me a beer

Cheers K B

 

[laurie]

QGC into the ASX S&P 100 Index so what does that mean to the company itself assuming it's not a indication of the company financial status nor progression forward with projects I also assume the market will reward it with a re-rating of the sp!

cheers laurie

 

[kingbrown]

There's was good news report on the ABC show late line
Last night

On the big future for Coal Seam Gas for LNG etc etc
also just after that re govt tax breaks possible for gas

RE Coal seam gas

http://www.abc.net.au/lateline/business/

 

[Dukey]

QGC into the ASX S&P 100 Index so what does that mean to the company itself assuming it's not a indication of the company financial status nor progression forward with projects I also assume the market will reward it with a re-rating of the sp!

cheers laurie

dunno - I wouldn't expect an automatic re-rating by any means - but you would think it should appear on the radar screens of more fund mangers especially for index funds etc ... so it could have a positive effect.

here's cheers to CSG'ers!!!!
:alcohol:

 

[laurie]

kingbrown many thanks for the link

Dukey
thanks I was trying to think what effect the rating has on a company and for some unknown reason fund managers did not registered in my mind it should have as it had happen before when it got into the ASX300 index

cheers laurie

 

[Dukey]

GAWD!!
it's all happening this morning:

1. QGC buys Roma for increased CSG tenement stake in PL171 near curtis NG pipeline. ~ $51M (half cash/ half scrip).

2. QGC buys ~20% stake in VPE -
for more surat basin CSG interests, gas agreements etc.
- $9.4M

Whats next in the CSG/UCG world??

 

[Muschu]

GAWD!!
it's all happening this morning:

1. QGC buys Roma for increased CSG tenement stake in PL171 near curtis NG pipeline. ~ $51M (half cash/ half scrip).

2. QGC buys ~20% stake in VPE -
for more surat basin CSG interests, gas agreements etc.
- $9.4M

Whats next in the CSG/UCG world??

What's next seems to be an uninterested market Dukey. Mind you the way today has started off there is little interest in anything. Oh well...

 

[kingbrown]

Well someone's excited in mid arvo trade
Sunshine gas has had rocket under it
Shg Shot to $2:74 still up about 10%
metgas up 7.66%
Esg Steady

All on a bad day
Wonder what would happen on a good day
Maybe the punters will come back to QGC on the close

Go Gas Go !

 

[Jimminy]

No surprises there.

ATP771 (Don Juan) is with VPE who QGC own 19% of now.

ATP771 borders Lacerta - owned by Sunshine Gas.

Put 2 and 2 together.

My posts on RAW (rawson resources) explain it a little better.

cheers.