The wife was wondering what I was smiling about at breakfast!
Congrats to all bagging some gains and profits in this today ...
I've been a believer in the story since the IPO. Bought $10K worth in the offering. Sold out for a small loss after the first couple of dry holes ... but got back in lower down for the next couple of wells ... had 200,000 shrs at about 9c average entry ... knocked a few out at 12c prior to (negative) Fireball result ... and knocked a few out today over 20c ... still long 100,000
As some posters have noted, there's no real "new news," here but it was a well crafted and well-timed announcement.
And after a pull back (I'll be buying again) the buzz should build up again ahead of drilling in June.
Note the reference to coal seam methane gas being more valuable in NZ than in Australia -- due to fewer resources available and buyers queued up.
I put some mates into LMP for the coal seam gas potential when they asked me about chasing the Aussie ones (e.g. ICN) after the BG bid for Origin became big news.
They owe me a bottle of Grange or two now!
LMP Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
