greedy guts 618.. soon you will have a seat next to S.A :)1....

greedy guts 618.. soon you will have a seat next to S.A :)

1. 	Plato Prospecting Pty Limited 	22,524,998 	6.86 
2. 	Acorn Capital	20,282,452 	6.17 
3. 	Calm Holdings Pty Limited 	19,997,253 	6.09 
4. 	ANZ Nominees Limited 	12,463,224 	3.79 
5. 	S & Y Ashton Nominees Pty Limited 	8,533,964 	2.60 
6. 	Mr James Michael Durrant 	8,091,754 	2.46 
7. 	D B Angliss Pty Limited 	6,234,597 	1.90 
8. 	Sassey Pty Limited 	5,114,895 	1.56 
9. 	Manotel Pty Limited 	4,800,000 	1.46 
10. 	Mr Thomas Fritz Ensmann 	2,800,000 	0.85 
11. 	Mr David Breiner 	2,500,000 	0.76 
12. 	Ginostra Capital Pty Limited 	2,500,000 	0.76 
13. 	Mrs Helen Alexander 	2,000,000 	0.61 
14. 	Mr Ian Clarke 	2,000,000 	0.61 
15. 	Cologne Nominees Pty Limited 	2,000,000 	0.61 
16. 	PJ Enterprises Pty Limited 	2,000,000 	0.61 
17. 	Fortis Clearing Nominees 	1,675,111 	0.51 
18. 	Halib Holdings Pty Limited 	1,573,187 	0.48 
19. 	Matalot Pty Limited 	1,530,274 	0.47 
20. 	CEP Holdings Limited 	1,486,219 	0.45 

Not quite. Acorn is gone from the register as we know. I now hold 1.4 in the company and 550k in two personal accounts. So overall at no 16 when combined all holdings together. If there is no significant change to the top 20, my company will probably make the top 20 in the next month or two. Even then, my holding would only represent 0.61% of the company, hardly significant to ask for a seat on the board :o)

his month does give us a chance to stock up, knowing the inevitable rise will happen in November / December.

Nothing is a sure thing, nor is there such a thing as inevitable (other than death and taxes). But there are a few reasons why I am buying right now...

* My average price was in the mid-teens after buying quite a bit in the low-teens. So am comfortable accumulating a bit more as long as my average price remains below 20.

* Global economy is on the mend, so I'd expect industrial usage of gas in the US to be much higher going fwd.

* I'm bearish on the greenback, so expect all commodities to outperform (including NG).

* I believe we're at the start of the next economic boom cycle. So while the equity market is already 6-9 months ahead of the real economy, I am not expecting the equity market to retrace significantly from here even if growth will be fairly subdued in the next 12-18 months.

* There are still quite a large number of open short position in NG. Their closure will help NG price to recover even more.

And these are just macro factors before we even get to the company-specific highlights - such as their relatively strong balance sheet, operating cashflow going fwd when prod is fully resumed, more potential discoveries along the Wilcox trend where they have had good success rate to date, proving up CSG resource (Gladstone and Fisherman's Point moving along nicely), and other bonuses like Hybrid, etc.

Also, not that I want STX to be taken out, but I have been expecting more consolidation in the CSG space. In fact, the lack of action in recent times have surprised me. This is because there is just no economic rationality in having three to four separate CSG LNG JVs. Therefore, this article comes as no surprise to me...

http://petroleumnews.net/storyview.asp?storyid=1037369§ionsource=s0

Oil major flags CSG synergies
Marija Zivkovic
Friday, 9 October 2009
ANOTHER round of consolidation may be on the horizon for the
burgeoning Queensland coal seam gas-to-liquefied natural gas
sector.
Speaking to reporters on Thursday, Shell executive
director Upstream International Malcolm Brinded said the
company was in consolidation talks with other companies
planning to build CSG-LNG projects at Gladstone,
Queensland.
“We can contemplate going on our own but we’re happy
to contemplate consolidation,” he told reporters on
Thursday. We’re ready and in discussions on that front.”
The company’s CSG-LNG project, named Shell Australia LNG, involves the
phased construction of up to four LNG trains, each with a capacity of 3-4 million
tonnes per annum.
The project will utilise gas resources from acreage jointly developed by Shell and
Arrow Energy.
The foundation train will use about 200 petajoules per annum as feed gas with
up to 4000PJ required for the foundation train in the first 20 years of operation.
Shell has said it believed its jointly held tenements with Arrow contained
sufficient gas resources for the first train.
The company submitted its initial advice statement to the Queensland state
government in June this year.
On October 3, the coordinator-general approved the statement for public
consultation.
Comments and submissions regarding the project can be made until November
2.

What do you think the likes of Shell and COP will do if we do prove up 2-3TCF of recoverable gas in PEL96? We're talking about a nice decent chunk of feedstock there. Long way till proving up those resources, but in the mean time, bring on the drilling and let's start inching towards Mount Retirement! :o)

618