At $8 gj WCL could earn around $30 million allowing for opex of 1/3 or $2.64 per gj.
Using a forward p.e of 15 that is a shade over a $1 a share.
It is interesting how the article mentions "a portfolio player in the domestic market"
What is a portfolio player ? Does AGL fit the bill -pardon the pun?
I used to own Mosaic Oil and Gas and at one stage had heaps of their shares but I lost my nerve when the stock wouldn't rise and there seemed to be this persistent seller who would dump as many shares as required to hold the stock under 10c. Impatiently i sold 2/3rds of my holding and about 3 weeks later AGL announced a 16c offer which was where it had been trading 12 months prior.
Do deep pockets with a big gas storage facility (Mosaics old depleted oil and gas cavities = a portfolio player ?
At $8 gj WCL could earn around $30 million allowing for opex of...
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