without mentioning the current 100% cash backing at current share price (noting that 0.2c of the ~0.5c cash will need to be used for decommissioning costs in the years ahead).
Expect if the company came out with an explicit statement that dividends of xzy% of free cashflow paid at regular intervals would be returned to shareholders the SP would be well north of 0.5c.
How the company will try and justify holding onto a horde of cash as a non-operator with questionable investment choices of late will be interesting to say the least .... surely even the jolly german otto will want his money back
OEL Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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