I think its simple CNE simple does not have the time/ money to further develop, and if you cant develop you cant extract the value.
On the other hand WPL realised there was an opportunity for a fire sale on a great asset that they good develop an extract value from, so they bought it. WPL are not silly with all the oil assets out there potentially up for sale with POO at near lows, WPL chose to purchase this asset.....I think that tells you something.
DYOR
Conoco Analyst call, page-4
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Last
50.0¢ |
Change
-0.015(2.91%) |
Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
| 51.0¢ | 51.0¢ | 50.0¢ | $13.38K | 26.64K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 99993 | 50.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 314682 | 3 |
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| Last trade - 15.44pm 08/11/2024 (20 minute delay) ? |
| FAR (ASX) Chart |