report, page-13

re: cs energy make $2.5 mill and get the hell out Thanks for that testie, you make a lot of good points.

Just one point about the contract though...that contract was broken a few months ago...this was announced and the market responded negatively if I remember. QGC tried to paint it as positive because they could pipe it to the new power station. I was under the impression that this was an entirely different contract with a different set of terms and conditions???

Your reasons for being skeptical are quite convincing. There are a few other positive pointers too, apart from the gas flows:
- Sentinal's large pay-in for a small stake in Argyle
- Large acquisition by director, presumably with insider knowledge
- Large buy-ups recently by institutionals...the share price didn't get to 60cents just through people wanting to get in on the SPP. There are lots of institutionals getting on board who presumably know they can't get more than 20000 shares despite paying well above the share issue price for there large lots.

I think the price will collapse after the issue...but I would be surprised if it went below 25cents again...if you add together current capitalisation (or even capitalisation at more realistic price of say 35 cents) to the SSP money raised and divide by the total shares on issue after the SPP I wonder what we would get? Might look into it.

Wish I could read those contracts with Incitec and CS Energy...bloody confidentiality agreements.