Probably sold a portion of their working interest to pay for director's wages LOL.
On a more relevant note, I thought it was a sensible move. Just note that if the adverse weather conditions do continue, there may be delays and that will lead to additional costs above the 3.7million needed to drill the well. From reading the announcement, I think Titan STILL is responsible for paying 13.33% of the drilling bill and that remained the same even after selling down of its working interest. That is, the terms of the sell down states that the other US exploration company pays the 306.5k for their 4.33% working interest and does not contribute to the drilling bill. Someone should reaffirm this as I am unsure of this.
Overall, a sensible deal I guess
P.S. why is Colin Hays still on the contact list?
Ann: TTE Holcomb Update , page-3
Add PV1 (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
4.3¢ |
Change
0.003(7.50%) |
Mkt cap ! $25.11M | |||
| Open | High | Low | Value | Volume |
| 4.2¢ | 4.3¢ | 4.0¢ | $46.40K | 1.106M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 46188 | 4.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.3¢ | 142904 | 4 |
View Market Depth
| Last trade - 14.33pm 17/05/2024 (20 minute delay) ? |
|
|||||
|
Last
4.2¢ |
Change
0.003 ( 2.44 %) |
||||
| Open | High | Low | Volume | ||
| 4.2¢ | 4.3¢ | 4.2¢ | 239731 | ||
| Last updated 14.33pm 17/05/2024 ? | |||||
| PV1 (ASX) Chart |