The Court victory by MEL today highlights te canniness of AJL's purchase of DTE's/Lawndale's CSG PELS at bargain/distressed prices. PEL 445 (80%); 456 (40%); 456 (80%).
Total of 25 wells drilled to date on these tenements, with AJL confident of hydrocarbos present. The Sydney Basin/Newcastle PEL in particular is strategically located near to high demand markets.
Jake0002's post summarises the transaction:
http://hotcopper.com.au/posts/14892355/single
Fairly muted response sharpricewise today
AJL should benefit from increased NSW CSG activity.
The Court victory by MEL today highlights te canniness of AJL's...
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