The three risks relating to that are.
1. A Duster.
2. A success but then a long wait for a new development program and a new farmin partner with Otto maybe needing a cap raising for sufficient funds to develop the field at a very high cost. Just look at CVN to see the scenario that could occur an they have some income.
Otto has none.
3. A further delay in the Africa drilling program to a date later in 2016.
I have sold a substantial amount of Otto because of these risk factors.
Mathew I would like to see a comment or a update on ASX of the possible time frame for drilling in Tanzania.????
I will buy back in if Otto go to 5 cents.. Unlikely prior to August drilling.
Also look at PVD with lack of info for there high risk reward drill programe.
All the best to all but I have taken a profit and will wait for the next 2 or 3 weeks to see if I will take a punt on re entering Otto.
The rewards are high if a success and a possible take over but its a gamble in today,s oil prices etc. 247
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Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.54M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.2¢ | $5.815K | 484.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 4449758 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 615230 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 4449758 | 0.011 |
13 | 19387452 | 0.010 |
1 | 100000 | 0.009 |
3 | 370247 | 0.008 |
2 | 550000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 615230 | 3 |
0.013 | 9662519 | 14 |
0.014 | 11895902 | 12 |
0.015 | 4427000 | 7 |
0.016 | 714285 | 1 |
Last trade - 15.43pm 04/09/2024 (20 minute delay) ? |
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