Consolidation makes sense on the surface, but in my experience...

Consolidation makes sense on the surface, but in my experience it just means it has further to fall and could trade below cash on technical selling, better to leave it as a penny stock and attract punters that see it is cheap at ~$0.007c post distribution.

Compulsary buyback is a good idea of small parcels, lower registry costs etc. Issue with too big a buyback is it increases Molton's holding as a percentage to that 50% mark which I think they would rather avoid, I think this is why the off-market buyback was floated earlier.

Agree on regular dividend guidance, in all likelihood they would also be structured as capital distributions as the carried forward losses on this baby can probably fund it for a while, no tax implication required.

JJ spending the residual $20m AUD that will be left in OEL has the market spooked... Because one must asking the question, do they really need ~$13m USD for working capital...?

Would be nice if they can just find a buyer for a half reasonable price for the existing assets, but management probably need to lower their expecations, kinda hard to do when they are all on decent 6 figure USD salaries for doing stuff all imo. But still should be a decent earner for years to come provided they can get on top of costs, which to be fair they have largely done over the last few years, paying back that Macquarie debt and building a $35m USD cash pile, just always take them a quarter or 2 to show this.

Looking forward to getting come cash out of this baby next month with the cap distribution and allocating it to some other oil and gas stocks, CVN and HHR both look like they have better growth potential than OEL these days, but I'll also be on the bid for OEL if it gets any cheaper....