Done & Dusted, page-16

POSCO director, saying in the Korean Times today, they intend to create a new company based on Hydrogen, Gas and Energy Minerals. They will use the Senex gas to create Blue & Green Hydrogen. This is also what Gina and Hancock Energy are interested in, they can now say with their almost 50% stake that they are involved in the Hydrogen industry.

Over the past 6 months I got tired of telling Senex to use some of their gas for Blue & Green Hydrogen, and to create a hydrogen subsidiary, had they done so, with all the global hydrogen hype, I believe their share price would be north of $6 today, and then what happens, POSCO take them over, and the first comment a director of POSCO makes to the Korean Times about the takeover, says they will use the Senex gas to create Blue & Green hydrogen, as well as gas to the East Coast market, and possibly export to Korea - go figure!

It's a shame to see it sold, because there was such potential here for this company, and much of the hard work had already been done, first dividends had just been paid, and there was a strong growth trajectory, it was just on the cusp of great things, and rapid growth, and then it gets sold, for probably $2 dollars a share less than current fair value. POSCO and Gina have done very well here, and their (ex Senex) hydrogen and gas company will also do very well for them.

Gw