You see delay and share price slump. I see opportunity!
13.5c is cheap and if I free up some cash this is the first place it will go.
Last quarterly talked about the next round of drilling in the 3Q this year - this is the PEL 6 CSG series. If it is this quarter that says to me by the 30th of September at the latest. 6 weeks max - can you wait that long?
On the bright side we have had a few days without a share being sold. That says to me that the shareholders know they are on a winner. Similarly, sell orders are thinning up to 17c.
I disagree somewhat with Hardmano (just the once) on the linkages between ESG and OIP. Whilst they are not the same company and they do have leases outside of their JV arrangement, there are in the same business, in the same region and from the same management fold. If someone like STO has the hots for gas in gunnedah, then there little neighbour sitting on a similar resource are going to cop some attention. You all saw the moves, when ESG did the run from 80c to $1.10, little OIP shot from 9c to 13c, then to 15c, then to 17c and has since drifted back to the 14-15c range, again mirroring ESG which has drifted back to $1.01-02.
If you are onboard, start with a thumbs up... and to steal a line from the FMG thread - I am a proud Australian supporting the little ozzy gas company that is going to make us a motza.
DYOR (no more wine for mr collector)
OIP Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
