The deal is a tad expensive at US$23.20 USD / bbl for 2P with WI costs in the GoM, but the deal gets them inclusion in the asx200 and a heap of index buying so I can see why management got suckered into it, plus it derisks from exposure to further Brazilian tax changes.
What always gets lost on these deals is the destruction to the share price, i.e. the discount it effectively placed on their existing Brazilian assets, so really the purchase price cost them and extra $200m, as I can't see it trading above $2.40 any time soon.
The deal is a tad expensive at US$23.20 USD / bbl for 2P with WI...
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Last
$1.83 |
Change
0.000(0.00%) |
Mkt cap ! $1.466B | |||
| Open | High | Low | Value | Volume |
| $1.84 | $1.86 | $1.83 | $6.916M | 3.760M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.84 | 22081 | 1 |
View Market Depth
| Last trade - 16.10pm 28/05/2024 (20 minute delay) ? |
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Last
$1.84 |
Change
0.000 ( 0.37 %) |
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| Open | High | Low | Volume | ||
| $1.84 | $1.86 | $1.83 | 705906 | ||
| Last updated 15.59pm 28/05/2024 ? | |||||
| KAR (ASX) Chart |