I have been buying the last few weeks, I think its a great buy at these prices with a market cap of about $20 million.
I think net profit of $5 million per annum is conservative, when Odin comes on stream you can double net profit to over $10 per annum, as they will be getting spot prices.
In a few years after adding a few more wells net profit could be close to its current market cap, provided gas prices remain strong.
With a likely 20 year revenue stream this will be a takeover most likely by VEN but at a much higher price than it is now. Would not be surprised if VEN starts buying a strategic stake in MEL when the gas and revenue starts flowing.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.342M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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11 | 12645040 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.4¢ | 13259974 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 12645040 | 0.003 |
8 | 20520899 | 0.002 |
7 | 59736865 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 13259974 | 12 |
0.005 | 5954721 | 6 |
0.007 | 100002 | 1 |
0.009 | 80000 | 1 |
0.010 | 1000000 | 1 |
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