The Court victory by MEL today highlights te canniness of AJL's purchase of DTE's/Lawndale's CSG PELS at bargain/distressed prices. PEL 445 (80%); 456 (40%); 456 (80%).
Total of 25 wells drilled to date on these tenements, with AJL confident of hydrocarbos present. The Sydney Basin/Newcastle PEL in particular is strategically located near to high demand markets.
Jake0002's post summarises the transaction:
http://hotcopper.com.au/posts/14892355/single
Fairly muted response sharpricewise today
AJL should benefit from increased NSW CSG activity.
Benefits from MEL Victory
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Last
0.7¢ |
Change
-0.002(22.2%) |
Mkt cap ! $11.00M | |||
| Open | High | Low | Value | Volume |
| 0.8¢ | 0.8¢ | 0.7¢ | $6.326K | 895.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 165146 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.8¢ | 200000 | 1 |
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| Last trade - 11.54am 14/11/2024 (20 minute delay) ? |
| AJL (ASX) Chart |