AU$300kpa savings in delisting is worth about 10% of total BoD/KMP salaries. When the board unanimously recommends delisting as the best course of action, this smells like voluntary administration territory. The only hopeful point in the last quarterly is the "expected substantial cashflow subject to oil/gas price", but I'm guessing the oil price drop two weeks ago dampened the expectation.
That unanimosity means either delisting is their last resort or they are all out to scam. Hopefully there is a silver lining somewhere but I can't see anything other than drastic raise (i.e.> 20%) in oil prices to turn it around. Good luck to whoever still holding.
AU$300kpa savings in delisting is worth about 10% of total...
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Last
5.1¢ |
Change
0.002(4.08%) |
Mkt cap ! $55.01M | |||
| Open | High | Low | Value | Volume |
| 4.9¢ | 5.1¢ | 4.8¢ | $9.268K | 184.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 209767 | 4.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 5.1¢ | 3379 | 1 |
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| Last trade - 11.23am 04/06/2024 (20 minute delay) ? |
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Last
4.8¢ |
Change
0.002 ( 2.04 %) |
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| Open | High | Low | Volume | ||
| 4.9¢ | 5.1¢ | 4.8¢ | 12937 | ||
| Last updated 12.30pm 04/06/2024 ? | |||||
| BYE (ASX) Chart |