A wall of announcements does not hide the fact that yet again ADX has had a hard time getting a flawless well.
For all concerned, it better not be a repeat of Romania, Tunisia, ... lots of announcements but no hydrocarbons produced (just consumed)
Couple of other asides from the annual report:
- Which well led to A$1.6mn of dry hole expense - nothing in the text, just in the numbers
- For 2nd year running they have temporarily shut in wells at Z&G - not profitable currently - if they can't be profitable at current oil/gas prices, will they ever? Either they don't want to take the write-down and cash cost of abandoning the well, or if you are being kind it is because they could be used for their green hydrogen storage and/or CCS plans ... which the annual report tells us is not the current focus of management time and cash expenditure ..
- hope springs eternal that they will be cash flow positive from operations ...
I also note that. other than admitting ot owning 51% of Romania asset, Reabold has said nothing about it other than it might be looking for buyer.
Aptly, their project page for the Romania asset is spot on ...
A wall of announcements does not hide the fact that yet again...
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Last
11.0¢ |
Change
0.010(10.0%) |
Mkt cap ! $48.26M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 11.0¢ | 10.5¢ | $146.4K | 1.352M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 392828 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 306793 | 3 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
10.5¢ |
Change
0.010 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 11.0¢ | 11.0¢ | 10.5¢ | 1357826 | ||
| Last updated 15.18pm 03/05/2024 ? | |||||
| ADX (ASX) Chart |