Have sold out with 100% in a few months...not bad.
Might be a little overvalued now...still a few question marks over this stock.
The main is the certification for Incitec. contract...compared to October last years, a doubling of 2p and 3p reserves was required. This could safely be assumed to be achieved. However, the six fold increase in 1P reserves is another matter.
Although recent financing deal are optimistic, the source of funding for a generator is another issue.
Given this uncertainties, selling out on recent capital gains a majority with a few left to be part of the SPP (as Rakia and others have suggested) seems a good idea...given the number of posters has jumped up and press is good...the chances of this being a speculative bubble is quite high...could always be about to take off but the certainty is just not there to substantiate the $1 value currently being bandied around, at least in my opinion.
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queensland gas company limited
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