With the perfect storm out there in the global commodity markets which includes oil and gas, it could be any success at RGN-1 may result in a muted response in EGO's share price.
The OPEC cartel is dead and its members are pumping out as much oil as they can to support their economies.
Brent price for light oil to which EGO's condensate contract with BP is linked is trading just over US$40.
LNG spot prices likewise are dropping likes stones due to an oversupply.
Will the local LNG suppliers begin looking at a gas hungry Western Australia and begin to offload their excess gas to the local market?
It certainly is a great time for large gas consumers to ink their longterm gas supply contacts at damn good prices.
Just where that may leave the O&G minnows in WA I hesitate to think as well as my investment.
DYOR
Well?????, page-5
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