I thought the consolidation of Otto's assets into the Philippines was a smart move by management.
I find it strange that only months after the consolidation has been finalised they start looking elsewhere again. You would think they could at least wait till the BHP deal has been sorted and Duhat 1 drilled...
I am possibly cynical but from their website it seems Swala Energy are looking to do an IPO soon and have no assets as yet, so they need someone with a bit of cash to come in and get some ground which they can take a good % as "facillitators" and float on that...
My experience with Africa is that it is an extremely expensive place to operate with huge geo political risk, long project lead times and you would only want to get involved if you had very deep pockets and world class assets... not OEL's cash.
africa?
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Last
1.3¢ |
Change
0.001(8.33%) |
Mkt cap ! $62.33M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.3¢ | 1.2¢ | $122.8K | 9.870M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 5956783 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 14877106 | 20 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| OEL (ASX) Chart |