Ann: Half Year Report, page-5

All good Hap, half yearly was pretty much as expected for me and the other ann was much in line with my thoughts which personally was a positive. Imo the GGE mgt are way ahead of most and have been for as long as I have been watching. Their efforts are worthy of more attention imo but it is what it is. O&G sentiment has not been flash although the OP drop has highlighted the weakness in many balance sheets and operations which long term should help the analysis and watchlists if/when things recover.

Found a late 2014 article on the gas exports (see: US Natural gas Exports) but will have a closer look as well as it looks interesting and not oil related so a refreshing change. I think there were some others being planned/built in Lake Charles area also and some pipeline developments elsewhere in the state which are worth keeping an eye on for a broader perspective.

A weakness in some of my thinking was not paying much attention to the macro influences so I have been doing more on that for now. One thing I noticed was the similarity between Thermal coal and Oil price, whilst different products they are both energy and have excess supply or lower demand. Numbers come from Index mundi. Using Australian thermal coal and Wti.


I'm not a huge fan of hedging but think that our mgt decision to set some hedges is probably a good indication of the result they want to protect for this year from a cash and profit perspective. That'll do, as always just my opinion.
Cheers