QGC - Queenland Gas Company

[Dukey]

QGC 2P reserves up 80% -
- from 1317 to 2370 PJ (proved & probable)

net to QGC = 1895 PJ.

Proved (1P) up from 477 to 560 PJ.

3P (2P + probable ) more than doubling from 3116 to 7100 PJ.

- all good news for holders... lets see the market response.

(holding qgc)

 

[jayinoz]

5% response but I feel this news RE: 80% gain in immediate resources of coal gas, if worth far more.

I would have expected 5% on the movement in oil alone- they just released to TV biz media at 12pm. Maybe closer to $6 b4 day's end.

 

[Neutral]

Very significant good news from QGC today, but the market reaction is a little unfounded. Maybe once the news hits the newspapers tomorrow the value will be realised in the sp.

 

[Eddyl]

Any thoughts on why QGC is running so hard today. The market didn't seem to react to there massive reserves upgrade, but its up over 5% today. Anything significant happening e.g a broker rerating?

 

[TheAbyss]

Purely my personal opinion, i suspect BG may be taking a position as a safety net for the origin deal or the market is betting that they will sooner or later.

Remember a while back Richard Cottee stated that he got a phone call from BG and expected it to be BG stating they are making a bid for QGC, however it was to telll him that BG were bidding for Origin.

 

[Logique]

Could partly be a delayed reaction to the big increase in reserves.
Whatever the reason or reasons, it has caused an improvement in some technical indicators.

 

[Eddyl]

Purely my personal opinion, i suspect BG may be taking a position as a safety net for the origin deal or the market is betting that they will sooner or later.

Remember a while back Richard Cottee stated that he got a phone call from BG and expected it to be BG stating they are making a bid for QGC, however it was to telll him that BG were bidding for Origin.

My senitment is that if BG take origin QGC will recieve a bid. If you look at the weekly exploration report for quite sometime, most of the tennements that QGC is investigating have a Origin stake. BG would own origin and have a 9.9% stake in QGC. If it could secure both the companies then it would be a very comfortable position to supply the gladstone LNG plant.

 

[laurie]

My senitment is that if BG take origin QGC will recieve a bid. If you look at the weekly exploration report for quite sometime, most of the tennements that QGC is investigating have a Origin stake. BG would own origin and have a 9.9% stake in QGC. If it could secure both the companies then it would be a very comfortable position to supply the gladstone LNG plant.

I would think there is IMHO a gentleman agreement between QGC and BG that there would be no takeover they need each other and don't forget AGL has a good chunk of QGC

cheers laurie

 

[Neutral]

I would think there is IMHO a gentleman agreement between QGC and BG that there would be no takeover they need each other and don't forget AGL has a good chunk of QGC

cheers laurie

Is this your own personal speculation, or is there a link you can provide stating this?

There have been a few 'BUY' recommendations on "Your Money Your Call" recently, aswell as QGC being a long favourite with CFD traders.

http://compareshares.com.au/mfg1.php

 

[Eddyl]

Big premarket open volume today, about 2,293,000, apparently the exercise of some call options. Any knews on these?

 

[malachii]

It has just gone into pre open so this could give us some idea as to the movements over the last day or so.

malachii

 

[malachii]

Just the target statement for the takeover of Roma. Wouldn't have thought that would cause yesterday's jump. Must be just one of those things I guess.

malachii

 

[laurie]

Is this your own personal speculation, or is there a link you can provide stating this?

There have been a few 'BUY' recommendations on "Your Money Your Call" recently, aswell as QGC being a long favourite with CFD traders.

http://compareshares.com.au/mfg1.php

That's why I said IMHO and just in case you don't know what that means In My Humble Opinion

cheers laurie

 

[Tysonboss1]

That's why I said IMHO and just in case you don't know what that means In My Humble Opinion

cheers laurie

Sometimes it can mean "Honest" opinion also,...
......................................................................................

 

[Boggo]

Sold mine today based on the (probably inaccurate) assumption that this is the correct labeling.

Open to comments/corrections.

 

[Eddyl]

The market has been pretty subdued in relation to QGC, despite lots of positive announcements, including an update on its LNG plans.
Any thoughts on this? You think a rerating of 80+% on 2p resources would be enough, for some extra market enthusiasm.

 

[Boggo]

I am watching at the moment, overall market sentiment is holding me back.

From an individual chart point of view it looks good to me.

Mike

 

[laurie]

They say the market is always right but in this case they have got it sooooo wrong and tend to wear blinkers on at times like this, time will tell

cheers laurie

 

[Tysonboss1]

They say the market is always right but in this case they have got it sooooo wrong and tend to wear blinkers on at times like this, time will tell

cheers laurie

I think we can expect alot of votility in these CSM stocks in the short term.

I think most of us here believe that they have a bright future, But we have to remember that they are trading on massive P/E ratios and the developments that will increase earnings to lower this p/e are still some years off.... So till these projects are nearer to completion and dividends are being paid I think we will be in the hands of the short term traders.

At the moment I am maintaining a sizeable parcel of csm stocks and am buying more when they drop back in price and selling small parcels when they get to top $.

 

[Logique]

Anyone know what this mornings trading halt is about?
It was in the news yesterday that BG were planning to unwind some previously agreed commercial arrangements involving QGC. So it might be to confirm that? If so, it may bring a pessimistic tone afterwards.