"I felt early they were setting up a trade sale, then they wanted to be producers and now they appear to be backtracking towards a sale." Great comment.
HHR tried. IMO they really did believe in the "transformational farm-out". Now that it has not worked out they need to tack back and sell down another tranche. Just another day for an O&G explorer with production aspirations.
Because of the EPL taxation structure the project is attractive to all current producers as they can offset the extended windfall tax against the project. With FID still set for this calendar year the timing fits.
A partial sale could mean HHR will have over $100m cash plus 20% of a project about to move into FID.
Ann: Appointment of Specialist Corporate Finance Energy Advisors, page-17
Add HHR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.6¢ |
Change
-0.001(7.69%) |
Mkt cap ! $16.85M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 0.7¢ | 0.6¢ | $1.889K | 306.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 15531523 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 30504734 | 21 |
View Market Depth
| Last trade - 10.30am 03/10/2024 (20 minute delay) ? |
| HHR (ASX) Chart |