I read this as back costs for MAY are part of the cost oil and they will therefore receive funds from this prior to profit oil in the event of successful discovery. Also whilst the operator may decide to drill again it’s unlikely they are only doing this to increase costs so good for MAY in longer term. Doesn’t help with cashflow though.
Ann: Binding farmout agreement signed for Block 9, page-13
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Last
2.4¢ |
Change
0.001(4.35%) |
Mkt cap ! $80.88M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.3¢ | $68.51K | 2.960M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 338720 | 2.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 2244796 | 10 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| MAY (ASX) Chart |