ECU 3.85% 25.0¢ eastern corporation limited

reasons why price is rising

  1. 64 Posts.
    I'm a little short of time at the moment so this post will necessarily have to be brief. I will try to give more detail at a later stage.

    ECU has been used as a backdoor listing for a company which I believe has large untapped gas reserves in the Galilee Basin in Central Queensland. More about this later, but it is all covered in the company announcements.

    That in itself is interesting enough, but when I found that the directors and their acquaintances were buying big I personally started buying also. I like to seeing directors buying their own shares, and disclosing to the ASX.

    Secondly, certain directors have been issued a large quantity of options which expire later this year, and at an exercise price of 4 cents, double the current share price.

    In other words the directors would have to be confident that the share price will at least double to at least four cents. Remember gas and energy stocks are very popular at the moment, and I believe this company has a lot to announce yet.

    I hold ECU shares and may increase my holding.
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Currently unlisted public company.

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