It's an interesting director buy, he didn't buy when the buyback was on at 18-19c, and then they were damn cheap at 16.5-17c when the buyback stopped, but then he chooses to buy in at ~23c, buyback still hasn't hit its quota and has stopped. 3 possible reasons IMO, A) cash wasn't available earlier, B) Gas project results way better than expected and he sees value, C) semi arranged transaction with a known party to occur on market for some reason.
Nice to know that another 0.7% of the script is no longer being traded, this could easily fly to 30-40c with a little bit of coverage in Aus or some more good news on the drilling
LRL Price at posting:
23.0¢ Sentiment: LT Buy Disclosure: Held
