I was thinking that the SP would go up after the announcement, however I was expecting a completely different announcement.
The ann that I was waiting for was BAS to complete and hold 30% interest from Cooper Energy but this announcement suggests that BAS is planning to acquire 100% of most tenements later in the future from Beach.
BAS will be the owner and operator of most tenements after this 100% acquisition.
Maybe this is why it's been delayed?
Also the trading volume is steadily increasing after the announcement, it's either what anatagamu says of traders stocking up pre-consolidation or just pure interest from traders seeing the potential since oil is on the rise.
2P reserve of 200,000 barrels x $US113 = US$22,600,000
2C reserve of 540,000 barrels x $US113 = US$61,020,000
they are planning to convert the 2C reserve into 2P reserve as highlighted below:
I was thinking that the SP would go up after the announcement,...
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