Dividends are paid from retained earnings, OEL has 76m USD in...

Dividends are paid from retained earnings, OEL has 76m USD in accumulated losses 31/12/23, so no retained earnings = no dividends. Franked dividends arise from Aus earnings, when corporate income tax has been paid in Australia, I don't foresee OEL having these from US operations. imo any dividend like payment would be structured as a capital distribution, not assessable income, resulting in a reduced cost base and/or a CGT gain depending on circumstances.

On off-market share buyback could be on the cards as this would allow holders to recognise tax losses, its just a little harder to price and arrange for the right balance of participation, complicated by Molton having 48%. I can't see OEL doing an on-market share buyback with Molton holding 48%, perhaps if they could do an off-market buyback and get Molton's holding significantly lower it would allow for an on-market buyback later, but tbh capital management has never been this boards forte so I'm not expecting anything extravagant. Off market buyback is probably the best first capital initiative option but I think we are likely looking at an old fashioned capital distribution, and with MU having a liquidity hurdle of 1.9c/share to start receiving an incentive, we may magically find the board recommending something that achieves an incentive for MU north of 1.9c/share.

I say that capital management has never been OEL's forte, so it would be very ironic if they nailed a management buyout after divestment of most assets and a major capital distribution, they may try. There is definitely value in the tax benefit of those 76m of accumulated losses, very unlikely they will just liquidate everything, I don't see that option on the table at all

Would love to see an update on that insurance claim for GC21, feel like its due!