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  1. #1
    Member
    Join Date
    Feb 2001
    Location
    , , New Zealand.
    Posts
    79

    Default MEL Metgasco (gas)

    Mel has gone from 20c in march to 80c now, looks like it should rise even more over the next year.

    LARGEST CERTIFIED GAS RESERVES IN NSW – 1.080TCF

    Metgasco Limited (ASX: MEL) advises that it has received an independent certification of
    significant volumes of gas its South Casino coal seam gas field. Possible (3P) reserves
    have now been established at 1,080 BCF and probable (2P) reserves at 21BCF.
    This result means that Metgasco now holds the largest independently certified gas reserves
    in New South Wales.
    The South Casino field has now demonstrated its potential to make a major contribution to
    gas supplies to the east coast energy markets. The project is located approximately 70
    kilometres south of the Gold Coast in one of the fastest growing energy markets in Australia.
    The project is well located to supply energy to the increasing population of northern NSW as
    well as Queensland and New South Wales energy markets.

    http://sa.iguana2.com/cache/9767f777...MEL-402728.pdf




  2. #2
    Legend shasta's Avatar
    Join Date
    Sep 2004
    Location
    Wellington
    Posts
    5,914

    Default

    Quote Originally Posted by donnie View Post
    Mel has gone from 20c in march to 80c now, looks like it should rise even more over the next year.

    LARGEST CERTIFIED GAS RESERVES IN NSW – 1.080TCF

    Metgasco Limited (ASX: MEL) advises that it has received an independent certification of
    significant volumes of gas its South Casino coal seam gas field. Possible (3P) reserves
    have now been established at 1,080 BCF and probable (2P) reserves at 21BCF.
    This result means that Metgasco now holds the largest independently certified gas reserves
    in New South Wales.
    The South Casino field has now demonstrated its potential to make a major contribution to
    gas supplies to the east coast energy markets. The project is located approximately 70
    kilometres south of the Gold Coast in one of the fastest growing energy markets in Australia.
    The project is well located to supply energy to the increasing population of northern NSW as
    well as Queensland and New South Wales energy markets.

    http://sa.iguana2.com/cache/9767f777...MEL-402728.pdf
    In light of the current CSG situation, MEL is another CSG company im keeping tabs on.

    Has run from 85c to 99c already this month (current SP 96c)

    Like ESG has NSW assets, but has QLD assets too...

    Will post some more details later...

  3. #3
    slow learner
    Join Date
    Nov 2007
    Posts
    602

    Default Pipeline

    I have put this one on my watch list, large 2P gas reserve with low share price compared to those areas that do have access to Gladstone LNG plant.
    The announcement by QGC to build a pipeline may open up such areas to world prices?

    Oil & gas weekly keep highlighting this stock.

    Any thoughts?

  4. #4
    Member
    Join Date
    Jul 2002
    Location
    New Zealand.
    Posts
    223

    Default

    Enjoying the run from 80cents
    Another 'quiet' achiever.
    I know no more than what is in the website.

    cheers

  5. #5
    Senior Member
    Join Date
    Jul 2002
    Location
    Auckland, New Zealand.
    Posts
    820

    Default

    i've added this stock
    “If you're worried about falling off the bike, you’d never get on.”

  6. #6
    Senior Member
    Join Date
    May 2004
    Posts
    1,023

    Default

    These guys appear to be a bit overlooked when benchmarked against their reserves.

    3P reserves of almost 1200PJ and a current market cap of $186m. Thats $0.16/GJ. They also reckon they're targeting 600PJ of 2P by 30 June.

    The main disadvantage is they are NSW based

  7. #7
    Senior Member
    Join Date
    Jul 2002
    Location
    Auckland, New Zealand.
    Posts
    820

    Default

    Its northern NSW

    they are actually closer to the gold coast and brisbane than most of the other CSG players
    “If you're worried about falling off the bike, you’d never get on.”

  8. #8
    Senior Member
    Join Date
    May 2004
    Posts
    1,023

    Default

    Yeah but Gladstone is where LNG is going to be exported from - not Brisbane.

    Anywhere that isn't near Gladstone is simply a play on domestic gas prices rising to international parity, which they will probably do in time

  9. #9
    F.A.B. Huang Chung's Avatar
    Join Date
    Dec 2006
    Location
    Brisbane, Australia.
    Posts
    2,269

    Default

    Hmmmm, why not build a pipeline to the Wallumbilla hub, and on to Gladstone from there via the existing pipeline. I seem to recall they are already building a pipeline to the Swanbank powerstation near Ipswich just SW of Brisbane.

    http://www.pipeliner.com.au/map/map.html

  10. #10
    Senior Member
    Join Date
    May 2004
    Posts
    1,023

    Default

    I bought a few of these on open today. A bit late to the party considering I've watched them for sometime and they then pulled back as the day went on. But with the amount of 3P reserves they have they could be a multi-bagger if they can convert a high portion to 2P

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