Absolutely, once reserves are defined, takeover are a certain, like every junior oil explorer.
Carnarvon Energy （CVN）sold its 10% interest of Dorado which is one of the largest offshore oil discoveries in WA ( with 171 million bbl) for $146 million usd dollars！
MAY got 30% interest of 362 million bbl onshore discoveries, MAY‘s 30% interest should be valued at least 932 million usd dollars（ refer to the price of CVN’s offshore assets，we are onshore！）, shareprice should be at least $0.37 !
Now the 362 million bbl coude be mutiple by X , according to the recent Ann
Takeover Talk, page-7
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Last
2.2¢ |
Change
-0.001(4.35%) |
Mkt cap ! $74.14M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.1¢ | $444.7K | 19.98M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2048367 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 1402823 | 5 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| MAY (ASX) Chart |