I agree they don't have the capacity to buy out OEL now but things could change very quickly for BYE and it does not make sense for them to be drilling at SM71 for a few years yet .
I don't know just how quickly OEL wound be able to find another buyer .
It could be on the market for a while yet .
Time will tell .
As a large holder of OEL you should be hoping that BYE has a good result in the well they are drilling now so at least BYE can be a potential buyer of OEL , maybe even a bidder in an auction situation if someone else was interested .
The point I am making is that it is probably worth more to BYE than anyone else .
There is great uncertainty for a potential buyer of OEL's share of when or if more wells will be drilled at SM71 and the present wells are past their best now and the former no1 inner GOM well is almost completely watered out .
I agree they don't have the capacity to buy out OEL now but...
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Last
6.0¢ |
Change
-0.001(1.64%) |
Mkt cap ! $64.72M | |||
| Open | High | Low | Value | Volume |
| 6.4¢ | 6.4¢ | 5.7¢ | $36.83K | 614.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 600000 | 5.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.0¢ | 103244 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
5.9¢ |
Change
-0.001 ( 3.28 %) |
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| Open | High | Low | Volume | ||
| 6.5¢ | 6.5¢ | 5.7¢ | 124196 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| BYE (ASX) Chart |