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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Last
6.9¢ |
Change
0.007(11.3%) |
Mkt cap ! $20.04M | |||
| Open | High | Low | Value | Volume |
| 6.4¢ | 6.9¢ | 6.1¢ | $9.4K | 140.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 424999 | 6.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.9¢ | 59999 | 1 |
View Market Depth
| Last trade - 16.10pm 27/05/2024 (20 minute delay) ? |
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Last
6.9¢ |
Change
0.007 ( 7.81 %) |
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| Open | High | Low | Volume | ||
| 6.5¢ | 6.9¢ | 6.5¢ | 64238 | ||
| Last updated 13.36pm 27/05/2024 ? | |||||
| BAS (ASX) Chart |