The reason that the market didn't like the announcement is that it seems ORG gave away 50% too cheaply( 13m + a " component" of the cost of the well) i.e. not free carried.
They didn't say how much this "component" is.
The well might cost 200m.
If ORG was free carried ,The 50% is worth 113m & the market would have valued PCL @ around 50-60m.
So, in fact the market is reacting rationally.
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Last
1.5¢ |
Change
0.001(7.14%) |
Mkt cap ! $121.9M |
Open | High | Low | Value | Volume |
1.4¢ | 1.5¢ | 1.4¢ | $26.73K | 1.872M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 1529182 | 1.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.5¢ | 8578600 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 1529182 | 0.014 |
20 | 8192705 | 0.013 |
7 | 4003366 | 0.012 |
5 | 4900000 | 0.011 |
4 | 2250000 | 0.010 |
Price($) | Vol. | No. |
---|---|---|
0.015 | 8578600 | 15 |
0.016 | 4734250 | 10 |
0.017 | 3224392 | 7 |
0.018 | 8040628 | 7 |
0.019 | 4693333 | 7 |
Last trade - 15.55pm 28/10/2024 (20 minute delay) ? |
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PCL (ASX) Chart |