jake0002Thanks for sharing your thinking. Points to note:VicGas...

jake0002

Thanks for sharing your thinking.
Points to note:
VicGas spot has increased from a base of $5+/GJ to $6+/GJ in the last few weeks spiking to $20/GJ at times. (aemo website). Winter will likely see much higher numbers as demand increases.
The selling pressure surprised me, the quarterly was as expected if not better. So someone's betting on a capital raise for the next expansion, poor debt refinancing terms or a left field downside. I wish I knew.
COE is becoming cheap. The foaming will be fixed, $24m is less than the writedown APA has taken. Sole will have its day.
The consistency of 48 TJ/d is a comfort. At >70%+ of nameplate capacity, the bankers will be happy and debt covered, just a question of how much it's worth to COE shareholders now?
next quarterly will tell.
my opinions only. dyor.