Growing low risk cash flow close to the core - big tick.
Not investing cash into SC55 when a bunch of other experts have had a look and said - 'doesn't match our criteria' - is atually also a tick. I doubt SC55 would be completely free carried for OEL so if others think it's not a goer then maybe we shouldn't be putting cash in either. Not to say that another party might take a different view over the next months. I doubt there will be an announcement because it's still an asset. Making an announcement will likely devalue it. There could be a party waiting on the sidelines using time to try and get a better deal. If there is interest in the field then the BHP cash is valuable to all parties rather than letting it 'expire'.
Most of the above is absolute speculation but OEL still ticks my boxes on cash flow and upside - it's just going to take some patience - which others don't have so buy on the dips.
Cheers,
Stu
NDO Price at posting:
5.3¢ Sentiment: None Disclosure: Unspecified
OEL Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held
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