I would suggest advanced negotiations with ERM are under way for a farm in, but dont expect mgmt to advise anything further. Recent ROG deal + 7% direct holding in MEL mean ERM are serious about CMB. Although their investments to date have been modest, it shows they are trying to get into a position of control without spending to much $$. I would suggest ERM are playing the farmin neg. hard given the CAPEX MEL requires, the timeframes involved and the negative sentiment around CSG especially in Northern NSW. This is a quote from St Baker (ERM) when they bought MEL.
We've done a fair bit of due diligence. It has conventional and unconventional gas, which de-risks the investment.
They definately see risk around the CSG, they will play this to their advantage in negoatiations. ERM seems a good fit for MEL & RVPS is bread & butter for ERM and would be a welcome addition to their power generation assets.
Why aren't ERM picking up more at 20c, I don't think it would be cricket (or allowed by a CA) buying stock when in neg. Plus Metgasco gets all the negative sentiment around CSG and not the Shreholders like LNG & EPW.
Just my thoughts.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.342M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.3¢ | $1.49K | 496.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 7470352 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 9266813 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 7470352 | 0.003 |
14 | 32360499 | 0.002 |
7 | 64703690 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 9266813 | 12 |
0.005 | 4954391 | 5 |
0.007 | 667557 | 3 |
0.009 | 80000 | 1 |
0.010 | 1000000 | 1 |
Last trade - 12.54pm 26/08/2024 (20 minute delay) ? |
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