ESG-Eastern Star Gas

[r dub 19]

Eastern Star Gas (ESG) is an ASX listed company focused on the development of Coal Seam Gas (CSG) in Northern NSW for the NSW and potentially Eastern Australian and international LNG markets. The company booked its first independently certified CSG reserves in late 2007 and has entered into key Memorandums of Understanding to supply gas for use in NSW based electricity generation.
ESG’s present, primary focus is on the CSG resource of the Gunnedah Basin in NSW. ESG holds a 65% interest in the Narrabri Coal Seam Gas Project, located in PEL 238 adjacent to the township of Narrabri.
As Operator of PEL238 ESG is conducting a 20 well corehole exploration and appraisal programme during 2008/09. In addition, 4 multi-lateral production pilot wells will be completed at Bibblewindi and Dewhurst. This programme is expected to generate additional reserves to underwrite gas sales agreements and provide gas to the Wilga Park Power Station which is undergoing expansion to take production pilot gas.

 

[Frodo]

http://video.google.com.au/videoplay?docid=843600520656530065&hl=en

 

[r dub 19]

ESG in trading halt till thursday, cap raising.

 

[Col Davies]

ESG has a Farm in agreement with Orion

Looks like they have found a s**t load (3000 BCF) of CSG in Northern NSW

 

[Tonche]

Showed some strength today and has stayed fairly stable considering the cap raising. Added to the ASX200 as of tomorrow which will hopefully make it a bit more visible.

 

[Reasonable]

http://thebull.com.au/articles_detail.php?id=1259

Bowen Basin mentioned, read into it what you will.

 

[r dub 19]

Buckle up ESG holders, in the fin review talk of santos and deutsche bank buying ESG.

 

[thenorthernpole]

Buckle up ESG holders, in the fin review talk of santos and deutsche bank buying ESG.

What you reckon would be fair offer price(per share)?

 

[Tonche]

Nice little pop today, good momentum behind it at the moment.

 

[r dub 19]

What you reckon would be fair offer price(per share)?

Well there was a broker report with a valuation of $1 however this is based on current reserves. If we reach our target of 1300pj I think an ABN AMRO broker suggest a price $2+. However if I would think it will take a bid of close to $5. This is getting interesting though if it was STO trying to takeover they could always offer their shares. There are now rumours of takeover of STO . Watch this space CSG sector is on absolute fire.

 

[Equus]

Hopped on a week ago. Very glad with how it's going.

 

[Chief]

Let us know when the CSG bubble is about to burst OK?

 

[r dub 19]

Let us know when the CSG bubble is about to burst OK?

Let me know when governments want to increase emissions.

 

[Equus]

Can't seem to close pass 0.85. At one point it reached .87 today but closed down lower.

 

[Chops_a_must]

What you reckon would be fair offer price(per share)?

Did a fair bit of work on this over on the aussie stock forums.

Fair value based on future contracts for mine are between 2-3 dollars, excluding dilution and future discoveries.

Based on offers for other CSG producers I reckon you'd need $5+.


Very happy long term holder here...

 

[r dub 19]

Chops, good opportunity to load up on some more with the SP falling a bit lately, also encouraging signs of water flow.

 

[r dub 19]

currently sitting on it's all time high! if anyone still wants a piece buy HGO.

 

[r dub 19]

Primed for a takeover

 

[Tonche]

Great announcement today and looking the goods IMO.

 

[r dub 19]

Congrats to all ESG holders with Santos buying 20% of ESG and 35% of their project. Will fly tomorrow.

 

[Tonche]

Was so close to buying more in the past few days and held off... Bad move but cannot complain, here come the fireworks!

 

[chaddles]

Have Hillgrove (HGO) which is riding on the back off the sale of their interest in ESG - up 47% today which is kinda nice and resulted in a personal increase of 28% for my small holdings - I bought relatively high at 0.195. Very tempted to cash in....

 

[r dub 19]

Bump, anyone still on board?

 

[nicolbolas]

Bump, anyone still on board?

Still holding, initial parcel was @0.45average holding @0.71, am liking that the whole sector has been given some life due to Arrow bid, (even though I believe that was a low ball bid) be interesting to see if another bidder comes forward.

Rumours re Woodside and Santos, refuted this week, but I can still see further consolidation of the smaller players, and even some middle ones. Will be interesting to see how the sector unfolds.

Ramblings are my own thoughts, please don't take this as gospel and DYOR

Cheers

 

[r dub 19]

Still holding, initial parcel was @0.45average holding @0.71, am liking that the whole sector has been given some life due to Arrow bid, (even though I believe that was a low ball bid) be interesting to see if another bidder comes forward.

Rumours re Woodside and Santos, refuted this week, but I can still see further consolidation of the smaller players, and even some middle ones. Will be interesting to see how the sector unfolds.

Ramblings are my own thoughts, please don't take this as gospel and DYOR

Cheers

I have bought at 64.5, 73,86 $1, $1.03. STO will have a go at us within the next 3 months imo.