Been thinking the same thing aras and was about to ask the same...

Been thinking the same thing aras and was about to ask the same questions?

I remember somebody a few weeks ago suggesting that their broker identified some patterns related to the buying of MEL stock. It seems to me to be more blatant in the last few days as orders that appear on the sell side are quickly bought out without changing the orders/volume on the buy side and generally without moving the share price dramatically (except for the 10% move yesterday and close to 5% today!).

I don't imagine that people are buying in anticipation of further Bowerbird drilling so I wonder if there is a little speculation buying regarding possible JVs or acquisitions activity in the market near term (or maybe somebody knows!). There has obviously been a lot of talk around ESG - that Santos have already shown and gained an interest in - but surely Metgasco is becoming comparatively attractive with a market cap approx 1/10th the size of ESG and still a decent chunk of reserves of almost completely uncontracted gas!

With a MC of around $100m, it would not take a spectacular investment from one of the LNG hopefuls to secure some reserves as a safety margin for Gladstone LNG project FID purposes with the possibility of MEL being a swing producer for them with its conventional gas assets. Or possibly somebody will just take up some or all of the 50% of PEL-16 which seemed to be the preferred method of divestment for Metgasco - that they themselves have mentioned previously.

Surely the day is coming soon when somebody takes some interest in little old Metgasco - Just IMHO but also sincerely hoping that somebody at least supports them/signs a JV soon so that we can see them accelerate their field development programs because it does seem to have slowed down heavily recently.