Possibly - hard to say. Could just be pushed back 6 months based on oil prices possibly heading back up.
Or maybe they may walk. I sure wouldn't spend $200m in today's oil climate in an area where there have been no material finds. It's duster after duster over there. The best find offshore is still Cap Juby at 3000 BOED. Thats a mud hole. Majors wouldn't even look at under 15000 BOED.
Freeport have a $24Bn market cap, so it unlikely PVD at $40m can have much say in anything, as they simply can't afford the argument. Surely there would be a back out clause in the documents based on oil prices.
Will be an interesting announcement.
Ann: Trading Halt, page-11
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Last
0.7¢ |
Change
0.001(8.33%) |
Mkt cap ! $18.25M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.6¢ | $5.691K | 897.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 13232175 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 6915743 | 10 |
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| Last trade - 12.56pm 29/07/2024 (20 minute delay) ? |
| HHR (ASX) Chart |