The individuals (businessmen) out the back of Dalby who are keen on this stock own land between the two main drilling sites. They have regular contact with QGC.
They have experienced the development of the sites and understand the previous $20M cock-up. Apparently, the company is not so hasty this time and are making sure that they don’t repeat their previous mistakes.
The reserves of gas are reported to be huge and when comparing this company with those in the US who are exploiting similar resources, they believe share price is cheap. How cheap? They think 0.40 minimum (this was some time ago and the price is approaching that now).
I should add that I am getting this information second hand, and how accurate it is I am not 100% sure, however, previous advice from them has been excellent.
QGC
queensland gas company limited
