Kingcarmelo I will definately stick to my guns, have been buying and accumulating a nice position in MEL for a few months now
This is the 3rd NSW CSG transaction
1. AGL/SGL takeover $4/GJ 2P $3/GJ 2P
2. AGL/MPO's and AJL's Gloucester $1/GJ 2P $2.11/GJ 3P
3. STO/ESG not sure about 2P yet but 66c-74c/GJ 3P
Only CSG player yet to have any proper deals/JV's/Investments made in it = MEL
Only NSW CSG company with current EV of 5c a GJ 3P vs 66c GJ 3P value = MEL
Wonder what Gastar are going to do with their $300m their gonna get from having a 35% interest in NSW's second largest 3P CSG reserves? Maybe take 30% of it and buy NSW's largest 3P CSG reserves (MEL)??
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