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METGASCO LTD (ASX:MEL)ELK PETROLEUM LIMITED (ASX:ELK) - Basket case, 14572567, page-10 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
MEL ELK

ABC24 Analysts forecast big year for coal seam gas, downturn for...

  1. peekaye
    590 Posts.
    lightbulb Created with Sketch. 9
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    12/01/15
    20:51
    Post #: 14572567
    ABC24

    Analysts forecast big year for coal seam gas, downturn for petroleum exploration-ABC 24

    Article from Northern Star 24.7.2013

    Metgasco was"keen to recommence exploration and development activities when there are regulatory settings that support investment". Metgasco also retains a DA for a Richmond Valley power station and foreshadowed new drilling at the proposed conventional Rosella E01 well north-east of Casino.

    At todays record Asian LNG prices, Metgascos combined proven and probable gas reserves are valued at $6.77 billion in export dollars. But it has estimated up to 30%of these reserves lie in the 2km residential exclusion zones announced earlier this year by the NSW government, which led to the company's suspension of its Northern Rivers program days later.

    Hate to see MEL taken out for a song as our shareprice in the last 3 years has been decimated by the actions of the NSW government and LTG. Most shareholders are underwater with MEL. Our current shareprice does not reflect our true value.
    ELK Price at posting: 3.0¢ Sentiment: None Disclosure: Not Held
    MEL Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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