I don’t know what happened last week but I tend to agree with...

I don’t know what happened last week but I tend to agree with the instos ripping the tree out of the ground theory which has already been discussed. There is no way that the run up to the $0.315 price prior to the trading halt factored in the 1153pj reserve - it certainly took me by surprise. In my opinion consensus was probably between 300-500pj.

I’m not too concerned with last week, as I know a takeover of this nature by a listed company carries far more weight than share price fluctuations that don’t make sense. Don’t forget the information below! As yes, this was before the well documented gas shortage.

In 2008, QGC took over Sunshine’s Gas for about $900 million.

https://www.theaustralian.com.au/business/mining-energy/qgc-offers-900m-for-sunshine/news-story/ac615e09b998d8ac93a51da26ac8d1e7

What did Sunshine Gas have?

-469 2P and 1097 3P reserves.

What does Leigh Creek Energy have?

- 1153 2P and 1608 3P reserves with more contingent reserves (which look promising given the current conversion).