queensland gas offer pushes price

DJ MARKET TALK: Queensland Gas Offer Pushes Price

[Dow Jones] Queensland Gas (QGC.AU) runs to record 49.5 cents then eases to be up 1.5 cent on trading of 1.7 million shares, extending run from 25.5 cents a month ago. QGC has rapidly evolving coal seam methane business. Rally though appears to stem from share purchase plan, under which investors can buy up to A$5,000 QGC shares at 25 cents/share for shareholders registered on Feb. 11, a week away. New investors will need to buy QGC shares at least 3 days before, it says. On Dec. 21, when QGC announced plan, shares traded at 28 cents. Price rise looks spikey.