new issue Apart from the obvious dilution of shares...the latest announcement confirms the long-term backing of some institutionals for the prospect of gas production from QGC. Particularly interesting was the $3.25 million (cash plus production payments) but up by Sentient for 10% stake in two tenements...illustrates what value they are putting on the whole field if it does begin producing.
Also interesting was the mention that they may upgrade the size of the power station.
Still a very long term bet but its good to know people with lots of money are there in the short-medium term...when the company will need lots of cash to survive.
QGC
queensland gas company limited
