EPG 0.00% 41.0¢ european gas limited

q gc holders the next big bargain

  1. av
    2,595 Posts.
    Well I will be trying to pick up some this morning if they try and sell them at 23 cents.

    Let reflect a little on recent announcements:
    - we've had 2P reserves at Gazanor - FROM WHICH WE ARE ALREADY PRODUCING - increased to 150PJ. What are BG paying for QGC producing assets in dollars/2PJ reserves????
    - the same teniment has 5000PJ of contingent reserves.
    - Lorraine has 2000PJ of contingent resources - for 20% of the tenement. We also have an exploration license for Lorraine Nord tenement.
    - Lorraine Sud - another approx 2000PJ.
    - we have flow tests due soon.
    - we have cash flow positive and can ride out the financial turmoil if need be.
    - in total - these total resources - not proven yet of course- are approaching those of QGC.

    All of this suggests to me - DESPITE the sub-prime crisis - it should have held its own.

    Then you have to consider the currency position - all these assets are in Europe and are earning Euros - how much has the ozzie dollar fallen in respect to the Euro?

    Then we have the Russian calling for a Gas cartel to squeeze the Europeans.

    Need I say more...looking for a bargain...look no further.
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