It is a 10% cost "insurance policy" in case of a problem with #IW2.
But it is even better than that because they can spend the cash on paying for the acreage and another well or developing #IW2 with a lateral.
Would you pay an extra 10% to get the option to toss the coin twice instead of once?
Remember, if you are here for the payout the share price is basically irrelevant, it is achieving the end goal that counts.
Ann: Trading Halt, page-163
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Last
0.3¢ |
Change
0.001(50.0%) |
Mkt cap ! $86.67M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $15.57K | 7.228M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 101 | 156421343 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 573323665 | 175 |
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| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| 88E (ASX) Chart |