In today’s briefing:
- State Gas – Final Construction Stage with Commissioning Imminent
- EQD | S&P/ASX200 WEEKLY LONG Supports Reset, Ready for Bounce?
State Gas – Final Construction Stage with Commissioning Imminent
- State Gas Limited (ASX:GAS) is a junior energy producer and explorer with assets concentrated in the Bowen Basin, Queensland.
- The Rolleston West CNG Project in the Bowen Basin is now in the final stage with mechanical completion and tie-in of the Rougemont-2/3 well anticipated within the next week to be followed by pre-commissioning activities.
- Importantly, first production and shipments are tantalisingly close and whilst the rate will initially be modest, up to 0.75TJd, the project has intrinsic growth potential (up to 1.7TJd) which could fund modest appraisal and evaluation works, particularly converting contingent gas to bankable reserves.
EQD | S&P/ASX200 WEEKLY LONG Supports Reset, Ready for Bounce?
- The S&P/ASX 200 INDEX closed last week down at 7421.20 (CC=-1). The index was rallying in the previous weeks, but then pulled back before reaching the previous all time highs.
- The next strong support for a LONG trade is 7288 (Q3 support), but there is a risk of a slide to lower levels, so hedge your LONG trades.
- This looks like a temporary correction (buy-the-dip opportunity to add LONG positions, or to re-enter LONG at better prices).
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