The debt is secured and in the event of a default, they can appoint a receiver and get the assets sold to a third party (no shareholder approval is required). If they wish the assets, they need the shareholder approval.
VEN and MEL could merge but the offer needs to come from VEN as they are the larger entity. Not sure why they haven't made an offer yet (may be they don't want to bother with the paper work or because some people will end up loosing their jobs?) It's highly inefficient having two sets of management looking after only two working wells.
Santos processes the gas and contractors drill the wells. The role of MEL is to get money and give it to VEN. If contractors do the job nicely, VEN management gets bonuses (Vali 1 and Odin 1). If contractors don't do the work well (Vali 2 and Vali 3) shareholders pay for new wells.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.413M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 16201844 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 7214191 | 11 |
View Market Depth
| Last trade - 12.36pm 16/06/2025 (20 minute delay) ? |
| MEL (ASX) Chart |
Day chart unavailable