You do have to take into account that it likely wasn't management themselves spreading the word of a CR... a few people that are in management/director positions own 10m+ shares. I would like to think they would want to see a SP performance that is positive and not negative. I'm sure plenty of people will have received notice (ie the brokers) that a CR was on the cards and a quick call gets made. I would be pointing fingers towards the brokers and not just management, although it is always plausible.
A sizeable short position was already in place too prior to CR but now 20m+ shorts gone and essentially little to no short position left, I would take that as a positive note. In theory, with the cash position they have now they should be able to accelerate the gas growth and by end of year be running on positive EBITDA, but we will wait and see. They have fallen short of targets so far, albeit a large delay with the start of new drilling from original guidance that was posted.
Looking towards this https://aemo.com.au/en/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem, now that winter is setting in the demand for electricity is skyrocketing in NSW. This should translate into some good results for QLD, although the time to make serious $$$ is more so in summer than winter for QLD. Hopefully can get some $15-16k price spikes over this time (it should happen even in QLD with NSW demand exceeding 12k). It is roughly $200k for each 5 minute interval in the $15k range when TPS is at 150-160mw.
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