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