I don’t buy into manipulation talk. Basically if someone wants a piece they will but it. Mac aren’t manipulating bugger all in my opinion since they now hold $3m bucks worth. I’m afraid the market thinks 9c is the point at the moment.
I can see a painful wait until the following keys
1 Moratorium outcome in March (only positive)
2 Drilling and gas shows feb/March
3 Production facilities and announcements of cap raising for, keeping in mind oily gas from merenie.
4 This of course will depend upon blending potential and other drill results in q2,3,4 at other drill sites where gas is less oily.
5 Gas pipeline reform outcomes June
6 GSAs post June
A lot of hard work and uncontrollable levers here plus I can’t see first gas ready upon NGP completion
