Hawkeye was always a cheaper well then Cinco. At the height of the boom, Otto management quoted me 35 to 40M to be drilled on a trouble free basis. Rig rates are already down 30-40%. On this basis, a 40% equity holding would be covered together with a decent blow out contingency in the BHP funding.
Previous announcements have always stated that the well will be plugged and abandoned regardless of the result so this is designed as a cheap well - don't expect expensive sidetracks, coring or well testing in the event of success. In the current market, they'll raise funds and retest at a later date - after the bounce in the share price.
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Mkt cap ! $57.54M |
Open | High | Low | Value | Volume |
1.2¢ | 1.3¢ | 1.2¢ | $495 | 41.19K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 13099582 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 10577965 | 17 |
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No. | Vol. | Price($) |
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9 | 13099582 | 0.012 |
9 | 10547005 | 0.011 |
19 | 23237452 | 0.010 |
3 | 6100000 | 0.009 |
5 | 595371 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 10577965 | 17 |
0.014 | 3665902 | 8 |
0.015 | 5327000 | 10 |
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0.018 | 209912 | 2 |
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