The froth was blown away this morning, and that wasn't a bad thing. Realistically,PEP 11 offshore is still a dream. It will be worth waiting for but it should not be factored in yet.
MMR (MEC) are placing their rights to PEP11 into a new entity controlled by the directors of MMR. They want to place PEP11 entitlement and also Central Petroleum Jv entitlement into ADvent Energy. Right now, Advent has zero cash and is unlisted. It does not have a rig for PEP11. It does not have an extension of the PEP11 lease. So, as an investor in BUY I'm still not getting excited about offshore Sydney, despite all the hype over the last days. There was nothing new that was said. I wonder if it was deliberately publicised??
What is real is KN1. I'm quietly hopeful of a commercial field which would give us a 10c sp. Wisteria drill is also real.
what was disappointing was BUY exclusion from latest KEY JV in tanzania. No money???
back to reality
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Mkt cap ! $7.493M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.5¢ | $8.784K | 1.756M |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 5 | 1786330 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 0.6¢ | 6419537 | 12 |
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| Last trade - 13.48pm 03/06/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 0.5¢ | 0.5¢ | 0.5¢ | 600000 | ||
| Last updated 10.04am 03/06/2024 ? | |||||
| BUY (ASX) Chart |