q gc holders the next big bargain, page-4

Good luck with the 23. I'll have a crack tomorrow.

I also note in the Annual Report the Benelux JV (EPG and Transcor) has also kicked off - 17.10.2008 with an Expl. application on the western Belgium flank. Should tie in nicely with the French zones.



q gc holders the next big bargain (av)
Forum: ASX - By Stock (Back | Return to Search Results for 'epg')
Code: EPG - EUROPEAN GAS LIMITED ( 22c | Price Chart | Google EPG)
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Posted: 28/10/08 10:05 Stock Price (at time of posting): 25c Sentiment: Buy Disclosure: Stock Held From: 140.159.xxx.xxx

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Well I will be trying to pick up some this morning if they try and sell them at 23 cents.

Let reflect a little on recent announcements:
- we've had 2P reserves at Gazanor - FROM WHICH WE ARE ALREADY PRODUCING - increased to 150PJ. What are BG paying for QGC producing assets in dollars/2PJ reserves????
- the same teniment has 5000PJ of contingent reserves.
- Lorraine has 2000PJ of contingent resources - for 20% of the tenement. We also have an exploration license for Lorraine Nord tenement.
- Lorraine Sud - another approx 2000PJ.
- we have flow tests due soon.
- we have cash flow positive and can ride out the financial turmoil if need be.
- in total - these total resources - not proven yet of course- are approaching those of QGC.

All of this suggests to me - DESPITE the sub-prime crisis - it should have held its own.

Then you have to consider the currency position - all these assets are in Europe and are earning Euros - how much has the ozzie dollar fallen in respect to the Euro?

Then we have the Russian calling for a Gas cartel to squeeze the Europeans.

Need I say more...looking for a bargain...look no further.