Maybe they should just run the reserves down, cut the CAPEX to the bare minimum,reduce the staff levels and invest any surplus cash in shares in alternative energy and Lithium stocks.
I think drilling 10 new wells will likely generate a lower return over time than investing that money in renewables.
Clearly the market is heading this way and its looking more and more dumb for O&G companies to invest in new fields that have a longer than 5 year life (and that makes just about every new field development not worth developing).
Ann: Quarterly report for the period ended 30 June 2021, page-10
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Last
$1.56 |
Change
-0.005(0.32%) |
Mkt cap ! $3.547B | |||
| Open | High | Low | Value | Volume |
| $1.55 | $1.57 | $1.54 | $6.996M | 4.488M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 50705 | $1.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.56 | 136978 | 4 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| BPT (ASX) Chart |