I think that everything is hinging on the 4th new block being awarded. That has to happen by the 22nd of June (90 day limit). From there I would imagine that OEL and MEL will farm into the new blocks (which won't raise much cash, as they didn't cost much); and that MEL will farm in to SM71 to cover BYE's cash shortfall. OEL is fully funded following the issuance of convertible notes - so could be full steam ahead very shortly. As a MEL holder I'm crossing my fingers that we acquire a 10% interest for around $3 million (what I see as fair value).
Ann: Byron Awarded South Marsh Island Block 74, page-8
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Last
5.3¢ |
Change
-0.001(1.85%) |
Mkt cap ! $57.17M | |||
| Open | High | Low | Value | Volume |
| 5.5¢ | 5.5¢ | 5.1¢ | $95.13K | 1.765M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 600000 | 5.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.3¢ | 164080 | 2 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| BYE (ASX) Chart |