Yeah but we have a MC of $2.7m, about $2m of which is cash.
So Ascalon is currently worth $700k?
We need a deal to backfill gas to Wickham Point.
I can't see that theres any other prospect of development within 15 years bearing in mind that the retention won't be granted unless NOPSEMA think that development is attainable.
Notwithstanding above, I'm surprised GA isn't looking in Bass Strait, he knows the assets out there and whilst its difficult, the gas prices in Vic going forward are epic. There are also a variety of relatively modern gas plants that are all looking for more supply. Some of the smaller onshore gas field assets are reasonably low cost and getting a cash flow into OXX is the best way of ensuring its survival IMO.
OXX Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
