METGASCO'S stock price soared today on speculation the junior CSG company is under potential takeover attack.
The stock is trading up 18 per cent at 51 cents a share in a down market, valuing the company at over $170 million compared to just $110m one week ago.
Queensland based ERM Power has just acquired a 6 per cent stake in the company and given the trading volume other big bets are being laid.
The most obvious player is LNG, which is 20 per cent-owned by China National Petroleum and is building an LNG plant on Fisherman's Landing at Gladstone and is short of gas.
Queensland based ERM Power has just acquired a 6 per cent stake in the company and given the trading volume other big bets are being laid.
The most obvious player is LNG, which is 20 per cent-owned by China National Petroleum and is building an LNG plant on Fisherman's Landing at Gladstone and is short of gas.
The Australian
No comments:
Post a Comment