I am thinking that the due diligence is well and truly finished. Most of it was done last year .
I think what is happening is more about some large obstacles EIG and Brookfield have to get over. These obstacles could relate to agreement between Brookfield and EIG on values , with EIG not ascribing the same value to the APLNG project as Brookfield does. It might also be about how to structure the deal with a jointly owned bidding company and how they avoid preemtive rights being exercised on the APLNG project. The first issue would almost certainly result in a lower bid , which was already likely anyway.
I don’t know , but it may be possible that preliminary talks have been held with FIRB and indications that FIRB might object to all or a part of the deal , but nothing is approved until a firm offer is on FIRBs table to review.
So many potential roadblocks , and in the meantime energy prices seemed to have come off the boil.
ORG right now is priced around its true value , so buying now will either result in people holding the stock and getting reasonable returns or selling into a reasonable revised bid.
ORG needs to grow a pair and announce that after a certain date no bid less than $8.50 will be acceptable . In other words, pi$$ or get off the pot.
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I am thinking that the due diligence is well and truly finished....
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Last
$10.34 |
Change
-0.070(0.67%) |
Mkt cap ! $17.81B |
Open | High | Low | Value | Volume |
$10.42 | $10.50 | $10.31 | $34.22M | 3.300M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 10589 | $10.30 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$10.35 | 9232 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 2890 | 11.280 |
1 | 183916 | 11.180 |
1 | 376636 | 11.170 |
1 | 170 | 11.150 |
1 | 101836 | 11.060 |
Price($) | Vol. | No. |
---|---|---|
9.520 | 263761 | 1 |
9.640 | 1313 | 1 |
9.830 | 9622 | 3 |
9.840 | 200024 | 1 |
10.100 | 900 | 1 |
Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
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CHARIOT CORPORATION LTD
Shanthar Pathmanathan, MD
Shanthar Pathmanathan
MD
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