In the long run, the value of gas is linked to the oil price. Gas is interchangeable with oil, in some applications directly and in others after conversion to liquid hydrocarbons. If the oil price stays low either because supply is plentiful or because demand does not increase, then Australia's gas will struggle to find a market, and the relatively expensive to produce CSG will be affected most, which is where MEL has an advantage over the other CSG companies. However, I don't think anyone is predicting that world oil demand will not increase, or that oil production can increase indefinitely to match the increased demand.
lost hope, page-3
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0.3¢ |
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Mkt cap ! $5.790M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 7 | 21129663 | 0.3¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 11390670 | 11 |
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| MEL (ASX) Chart |