What is their burn rate? I'd bet 400k/month in office overheads and salary. Any field operations are above that.
I think the cash would be down around the 7-8 million mark. I'm not aware of the hedging policy of OEL/GPC but are there any hedging losses while oil has been high and production not commenced yet?
It will probably be Ok if the accountants are "relaxed" and we get Galoc online next week but as pointed out, signing the AFE is like signing a cheque - the money better be in the account.
Luckily Parksie isn't a director so he can pass that one up the line (probably the first time he is glad to be a CEO not a MD).
p1000
new letterhead raising coming, page-32
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Last
1.2¢ |
Change
-0.001(7.69%) |
Mkt cap ! $57.54M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.2¢ | 1.2¢ | $5.762K | 480.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6210087 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 2495898 | 7 |
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| Last trade - 16.10pm 12/11/2024 (20 minute delay) ? |
| OEL (ASX) Chart |