goodaye Sle, it sure was a good day for CSG stocks today. hope it keeps coming. i have had VPE for years, and been disappointed. I have put some posts up on VPE recently - pointing out that much of the QGC money has gone into VPE. VPE is sure to get gobbled-up. BOW is probably in a similar boat because of Don Juan. It really makes sense for QGC (sorry BG) to buy up VPE and BOW, then flog-off the oil assets of VPE, BOW and RPM.
Am not sure about MPO any more, as they have sold Gloucester assets - not clear on how prospective Mungi is - i think MPO only has a few Qld CSM assets left, so their big attraction is Canada and South Africa. I think they said that China assets were non-core, so they will sell those to their Chinese J/V partner. So really, MPO now is predominently an overseas CSG coy play - so i think that's a much different risk profile, than what it was pre-Gloucester sale.
ICN - i just got into trouble voicing my opinion on the mgt of ICN. Their principal asset sounds good, but the mgt is not up to the standard of other small CSG coys. The shares went for a good run today, but i am unclear as to how good the deal with Stanwell really is. I am sure it is better than their proposed deal where they were going to issue millions of C/notes to an o/seas funder in order to get funding for their CSG development. To get a picture of how poor the mgt of ICN really has been, it would be worthwhile to compare the progress of ICN with newer coys such as WCL and PES. No contest!
what is your opinion of MEL, BUL and others?
cheers
WCL Price at posting:
31.0¢ Sentiment: None Disclosure: Held
