more consolidation, page-9

Of course I done my research.

I done it for the whole CSG sector in NSW/QLD. AND I use to be a WCL holder, BUT lucky I sold out when it was 70c. Look at it now. Before when I was holding WCL, I always "dreamed" that this one will be like BOW & PES.

But no. It didn't. Look at the share price now. Thankfully I sold out at a high, when NHC & ANZ Infrastructure Group was taking part of the placement.

What convinces me today, is the CSG sector today is different to when it was 2 years ago, when every that had some relation to CSG was running hot even ROG, ICN. TODAY, only the closest thing to big players with at least 1,000pj 3P reserves is only worth getting. Hence, if you look at MPO, they are trying to divest their QLD CSG assets. I think WCL (also I thought BOW was) is keen on buying it off MPO. But WCL lacks the financial ability to do so. BOW's interest would disappear now with Arrow's takeover taking place.

2 years ago, I bought nearly everything that was CSG, which I had AOE, STO, BPT, BOW, PES, WCL, VPE (now its SXY), MEL and ROG.

ROG was the worst investment I made, got in at 3c and bailed out at 2.2c, looking at it now. It has 3P reserves, but look at the SP now?
http://www.asx.com.au/asxpdf/20110822/pdf/420j9gpvdf12cf.pdf

I had WCL and was holding it for like forever since buying at 45c. Then they made a place and rights issue, I maxed out in the rights. It jumped to something like 76c (which I was tempted to hold, thinking its like a PES or BOW eventually). But no... it didn't...

Now I only have BOW and MEL (BPT divested its CSG assets, so its a non-CSG player now).

I couldn't be happier with BOW.