i got stopped out yesterday & took a loss. very surprised there wasnt a substantial bounce (apart from a brief intraday bounce on the day of the sell off & the morning after) given the brutality of the sell off.
i think the problems go deeper than this company. there is a lot of contradictory information out there but from what i have read the gladstone plants are getting close to being switched on & wont have enough gas to run at full capacity? by rights you would think that they should still be trying to bring new wells online? is there a problem with the csg to lng process? also the oil/gas prices being in free fall wont be helping but i would have thought the exported gas would have been locked into long term contract prices? lots online too about competition from US shale gas & demand not being as high as anticipated.
best to watch & wait for a rebound in oil/gas sentiment now imho. once a stock starts clearly downtrending like this, the only true bottom is zero & i have seen it happen with bigger companies than this.
good luck to holders.
AUG Price at posting:
44.5¢ Sentiment: None Disclosure: Not Held
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