I don't normally do this Ronny, but since you are looking for ways to play energy and mention the above options I feel obligated to tell you about my favourite stock atm, Comet Ridge (COI) as it is much better than the first 3 mentioned, low risk, high upside situated in an area desperate for gas supply, domestically and internationally (LNG). I have also put Comet Ridge to a number of fund managers who are now looking at it closely, I also note, PURE AM, Wilson AM, Chester AM are all invested and Perennial have commented in an interview they feel COI will be acquired this year. I also spoke with a fundie 4 days ago who will be looking to take a position.
COI
- Recently capital raised and now has $22m net cash on hand to fund next stage of FEED, FID - from my discussions with Comet management, this was done as STO is pushing for next stagei.e. STO want to progress the project faster (unlike how STO's been with Dorado and CVN, although this will change soon for Dorado and the portfolio in my view)
- East Coast Gas Market is in dire straits, supply / demand dynamics favours progressing gas assets (COI's 60% Mahalo JV Interest & 100% interest of the 3x Mahalo North tenements)
- Dataroom is open as confirmed by the company where funding prepayments are being discussed (Gas buyer pays Comet Ridge up-front to fund Comet Ridge into the FID and beyond - basically Gas buyer covers costs to get Comet Ridge into production sooner, at higher rapidity and more efficiently) - Commercial discussions are in Due Diligence stage
- Spot & Contract prices on East Coast market are elevated, $12/GJ now the floor price and acting as an anchor for future GSAs (Gas Sale Agreements)
- Mahalo JV with STO well-advanced and is at Concept Select Phase due within 2 weeks with FEED stage then FID due within next 6 or so months (Interest: COI 57% / STO 43%)
- GSA just signed with Cleanco (Government-owned entity, shows you how desirable gas is)
-MoUs signed with Orica for Gas Supply & Jemena for pipeline to be connected to QGP (Queensland Gas Pipeline)- 175PJ of 2P gas reserves still uncontracted which leaves room for an acquirer of Comet Ridge (or their assets) to negotiate deals with supply / demand dynamics in their favour i.e. deals may be struck at $14-15 / GJ moving forward, rather than at or below $12 price cap (most gas companies are being exempt from the govt's $12/GJ price cap, which is ironically causing $12/GJ to be the price 'anchor' or 'floor' rather than a cap and Comet Ridge is one that has been exempted...)
- Close to existing pipeline infrastructure which is even more compelling for an acquirer
- STO's GLNG LNG Plant is well-below nameplate capacity as has been written a lot of late and so COI would be the suitable acquisition for STO as they can connect the gas to GLNG. This may mean Comet's Mahalo assets could trade in-line with international gas prices as LNG will influence their LNG supply
See here where the fellas on Money of Mine discuss the East Coast market as well as CVN with Rusty - the link should take you straight to the chaoter where they discuss it - but if it does not, go to (1:04:56) 1hr 4min in...https://open.spotify.com/episode/3mwINwANT1Tiw1rQKlOWWR?si=pcMqAVXcRx-RO0mbXSh3KQ&t=3896
COI discussed here at (00:56:00) - 56 min mark
Cleaning CONVERTIBLE NOTES – with Dan Porter (youtube.com)
Sorry for the extensive post guys, I will not be doing this again, however I do feel it necessary people are shown a path to the best Aussie energy plays possible, why not? These are ASX-listed, so why should small retail investors like ourselves miss out simply by not being told or directed to a certain market like the East Coast? I feel the above thesis does relate to CVN one way or another as it exemplifies what's possible if STO pulls their head in and actively participates in the joint ventures with CVN..if not, Rusty will take action I am sure...
(20min delay)