What a fall from grace! All this in less than 12 months.
POSITIVES
- They sign up Meridian
- Share price skyrockets to $5 (this was a market darling)
- They place a large sum to Baupost and Valinor at $4.35 per share (good decision)
NEGATIVES
- They set the expectation of further BTAs
- They invest towards FERC approval
- Oil falls to $27
- Natural gas falls to around $1.60's
- FERC approval and BTAs are delayed
- Oil rebounds back to $42
- MD displaced (12 months before contract expires)
- Oil falls back to $37 and natural gas heads over $2
- Share price now down close to 91% (hits 45.5 cents and closes at 46.5 cents) with no sign of recovery
What happened?
Has another ASX200 share experienced such a sharp fall?
LNG Price at posting:
46.5¢ Sentiment: None Disclosure: Held
