"Gas prices have been surging above A$10.00 per GJ in Sydney and between A$9.00 and A$10.00 per GJ in Victoria and Brisbane2. As the current gas shortage is likely to continue the gas price should remain high and drive gas exploration projects on the east coast of Australia" The above was a statement from KEY today on their new MOU with Santos/Beach.
My new book after further research/consideration - 2-1 Beach/Santos JV 3-1 Beach/OG Energy JV 4-1 Beach Energy 5-1 Santos 5-1 Mr.Asia 7-1 Origin 9-1 Shell Aust. 11-1 Others Beach for all the reasons I mentioned in an earlier post but I also draw your attention to the following- East Coast gas - Beach has currently 15% domestic market share and they want more. Much more. Beach sold 40% of its Victorian/Tasmanian Otway basin to Eyal Ofer’s O.G. Energy Holdings Ltd for A$344 million in cash in Oct. '18. Beach expected to settle the payment from OG Energy Q3 and receive A$344 million in cash. Beach will be in near future in a cashed up position to make a play with another JV partner to make GAS a reality. Beach already has a track record of JV currently working with Santos - Kissin Cousins. Beach now has formed a strong alliance with Eyal Ofer’s O.G. Energy Holdings Ltd. Mr Eyal Offer a multi Billionaire wants to grow and expand gas production in Aust. through his company OG Energy- "Eyal Ofer, chairman of Ofer Global, said the acquisition(Otway) will be a cornerstone around which his company intends to build a presence in Australia and the region" Oct.'18. GAS has the goods Mr.Ofer please consider. Pumper All of the above IMHO as always DYOR.
GAS Price at posting:
85.0¢ Sentiment: Buy Disclosure: Held
