Perhaps there's a method in his madness where OEL management incompetence still plays into his hands. In the restructure at 0.6c, Molton was able to buy 1/3 of the post restructured company for ~ USD8m. With current cash alone at what , USD40m ? , that purchase is looking pretty good at the moment and it took him to effective control at 48%. He also did very well out of the interest and production bonus payments from the Convertible notes. The cap raise for GC21 was really to help raise funds to payback the c/note debt to Molton.....imo. Heads he wins, tails he wins. I think he's been looked after quite well in return for letting this useless mob continue to draw a salary.
OEL Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
