Kimberly Oil has bounced nicely since the end of June ... more than I would have expected after tax loss selling. Their coal bed and coal mine gas assets in Europe look promising.
Coal bed methane (CBM) apparently meets up to 10% of US gas requirements. Its big business in the US but it hasnt been developed in Europe yet. The fundamentals are good though ... high, concentrated population ... established reticulation networks ... a strong gas price.
To date CBM projects in Australia are held back due to poor collection and distibution infrastructure and a resulting "discounted" gas price that is about 1/3 that in the US and Europe.
Any new players in CBM in France pretty much have to talk to KBO.
Anyway, something is driving the SP up at the moment ... in spurts, followed by a few days of consolidation until the selling depth improves.
Anyone else interested in this stock?
KBO
kimberley oil nl
looks like a solid bounce to me
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