I've got another theory and I might be wrong. Just want to throw it away for a possible option as well. Most of the big companies, especially in US, would like to be sure that any entity they are entering into agreement with (JV or take over), has enough funds in their books to secure the relationship from their perspective. My guess is, some big oiler wants us to have enough funds before they can do a JV(i'm discounting take over). Ofcourse, to do lateral or horizontal drilling is also on the cards with these extra funds.
I'm not going to sell any of my 88e stocks just after the trading halt is released, if the stocks are trading above 3.6c in the hope to make the most of it by buying back when it reaches 3.6c. In fact, I'd hold onto it for the JV announcement after few days. Even if its not a JV, nothing to lose. We have just bought an insurance policy with these funds. DYOR ETC.
Cheers,
Notty.
Ann: Trading Halt, page-167
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Last
0.3¢ |
Change
0.001(25.0%) |
Mkt cap ! $72.33M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $634 | 213.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 150 | 166689125 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 601425897 | 251 |
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| Last trade - 10.00am 11/10/2024 (20 minute delay) ? |
| 88E (ASX) Chart |