At least the ESG board knew when their time was up.
I'm not so convinced with passage of time that STO got the steal suggested. ESG had a lot of technical problems getting their wells to flow. The old blue ball affliction! :)
That's why assets typically rise up the chain in oil and gas. Financial and technical capacity are two pre-requisites. KAR has only technical and the capital flows are quickly drying up OR attracting a premium. The capital base is in for a flogging if there is another raising.
I wonder if the emotional attachment of the board to the company always reflects the full interests of shareholders? That's not to suggest Bob and co. aren't capable/honest/pros - clearly they're very very good at what they do - it's just their motivations differ (not right or wrong, just different) in many respects.
My personal view: once the drilling program in Browse is complete there should be a resource upgrade and a takeover by year's end.
At least the ESG board knew when their time was up.I'm not so...
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Last
$1.83 |
Change
0.050(2.81%) |
Mkt cap ! $1.466B | |||
| Open | High | Low | Value | Volume |
| $1.80 | $1.84 | $1.79 | $8.392M | 4.606M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6282 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 79500 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| KAR (ASX) Chart |