There's was a broad based rally in junior gas explorers today. Interestingly it was limited to the smaller players where bigger plays like SXY and COE didn't participate.
Reports over the weekend had Asian LNG prices jumping 50% last week to 2009 highs as a number of importing countries collectively experiencing colder winters and dwindling stocks.
Given the larger East Coast gas plays didn't rally suggests there could be more to it. Might be the market pricing in a takeover play, or expectations of East Coast prices returning to $10/GJ. Last weeks publication of LNG netback prices had February delivery close to $16/GJ.
Either way CTP is well placed. Both the farm in agreement and a long term GSA will be easier to execute in this environment.
GLTAH![]()
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