Time to guess who is doing the buying.
My guess is ERM's buy-in has forced another significant party to enter the fray and take a position.
The significant party may have been patiently waiting for further confirmation of MEL's CSG and conventional prospects before showing their hand.
ERM and LNG Limited are now confirmed as potential, large gas buyers interested in supply from MEL.
In addition, MEL is building its own electrcity generation plant and the local dairy wants supply. Is MEL's prospective customer book is looking a bit full?
We haven't heard any further from FLEX LNG, so no idea where that is.
Both ERM and LNG have bought in as a hedge against further disappointment in the event MEL's future supply is taken out by another party or energy major.
LNG Limited's announcement regarding gas supply for Fisherman's Landing (FLLNG)is now overdue.
I've speculated FLLNG's supply will come from Arrow (including BOW) and then MEL.
My favourite candidate for the new buyer is Arrow. I'm assuming LNG has not announced a GSA with MEL to keep a lid on MEL's share price and allow Arrow to build a position for an eventual takeover.
This of course assumes Arrow is working in conjunction with LNG's major shareholder HQCEC.
The grand plan - Arrow then provides exclusive upstream spply to FLLNG and its Curtis Island LNG trains.
As others have noted, combining Arrow's NSW assets with MEL seems logical.
I know I'm drawing a long BOW here and it sounds like Arrow is behind every door.
Other candidates?
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- ASX - By Stock
- drawing a long bow
Time to guess who is doing the buying. My guess is ERM's buy-in...
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.790M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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16 | 24251602 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.4¢ | 6069159 | 6 |
View Market Depth
No. | Vol. | Price($) |
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16 | 24251602 | 0.003 |
7 | 28975499 | 0.002 |
7 | 54300000 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 6069159 | 6 |
0.005 | 4954391 | 5 |
0.006 | 1626490 | 2 |
0.007 | 667557 | 3 |
0.009 | 80000 | 1 |
Last trade - 11.11am 19/08/2024 (20 minute delay) ? |
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