I am a VPE s/h and have kept an eye on Odin since it stirred things up at Vic Pet. I thought the foray into VPE demonstrated a keen sense of timing and IMO ODN was very unfortunate to fall foul of QGC stepping in and effectively blocking their move. Odn managed to make it out the other side with a mill or so extra and lived to fight another day. Been watching the sp and taking note that it is trading well below cash backing. IMO there will be many opportunities arise in the O & G sector over the next while and whilst Odin appears to be dormant and sitting on its cash i suspect that the directors will be evaluating deals in order to utilise those funds. I am on the sidelines for now but will watch for signs of corporate activity with a view to an entry
good luck to holders , I wouldnt be surprised to see that cash find a suitable project over the next qtr or so, until then i suppose you will just have to be grateful that the company is cashed up and on the prowl. News of a win against BLU energy for recovery of funds should also remove a little of the uncertainty that currently clouds the companies near term position
ODN Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
