Ann: Surat 2020 Work Programme Update, page-60

I held AJQ from a first purchase at 18c. My last was at 2.2c.
Made a little bit of money when the Chinese and AEP were tussling over the company in 2015.
Found myself still holding with an average price of 7c at the end of last year, so I sold out around 5.9c.
Five years ago, gas was an important transition fuel, and LNG export was coming online.
Now, the LNG plants exist at the mercy of their counter parties, local gas supply is tight, but the market has moved on.
Scott Morrison wishes for a gas led recovery, but he is dreaming. There isn't any need for expanded gas in the power grid, renewables can do it cheaper, even covering off-peak night consumption without expanding the gas sector (though gas peaking will be necessary for many years).
Gas in industry is in decline. US gas prices have been under $3 for years, so why would you operate in Australia with much higher prices?

I think AJQ still holds some valuable assets, and I think Brad Lingo will be a good manager.
But if he is successful, AJQ will be a nice little gas supplier, with a moderate cost to supply.

I'm looking for more upside than I think AJQ can deliver, so it makes sense to me to take a loss and redeploy the money.
Good luck to new holders, and thanks to long term believers who have been informed and entertaining posters on this board.
I've sold now, so if the price rises to a dollar, I'm no better or worse off - so I hope it does for those still holding.