Settle Gents, I started this upward little avalanche by buying 1 mil@7 cents 2 days ago, I think everyone has piled on in FOMO mode. I am a sergeant Schultz.
I made a motza on SFG and cashed out as I think with China's debt to GDP ratio and Trump pushing them over the brink with tariffs then now is not a good time to be raising funds for a prawn farm, but also thanks to Trump O&G are good. I placed 2/3 on CTP and was going to up my stake further but the new gas discovery at palm valley pushed the SP too high. So I bought CUE instead.I have the following thoughts to share . The POO is not always a reliable indicator for SP as the oil price can go down as well as up and lets face it $7.5m is slim pickings in O&G as profits go.
At todays share price the P/E ratio is high 6's so I see little downside @7c.
Why is an O&G minnow with roughly $20m in the bank and no debt prepping for an up to 25% capital raising? I wonder if they arent deciding to spread their wings and take a punt. Ironbark is an elephant. If CUE decides to retain 20% equity for the exploration well, then they will need about $4m to drill and then another say $20m for a production platform, xmas tree etc etc. I see no suggestion they are to be free carried with the well. So maybe this suggests they are going to bite the ironbark themselves. 1 in 100 exploration wells ever becomes a production well so an exploration well with an estimated 1 in 4 chance of success would be a very good 1 off chance to become a billion $ company..Otherwise they will remain a cashed up minnow. I can see good reason for NZO to swallow the minnow before Ironbark but also if CUE takes on Ironbark they still have good exposure to a good outcome but if the outcome is -ve it will have little effect on their SP. Come si come sa. For me it suggests that Ironbark is set to go.
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Last
10.5¢ |
Change
-0.005(4.55%) |
Mkt cap ! $73.32M |
Open | High | Low | Value | Volume |
11.0¢ | 11.0¢ | 10.5¢ | $8.603K | 79.97K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 177731 | 10.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.0¢ | 759708 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 177731 | 0.105 |
11 | 781953 | 0.100 |
1 | 2 | 0.098 |
1 | 103000 | 0.097 |
1 | 18000 | 0.096 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 704708 | 13 |
0.115 | 300000 | 2 |
0.120 | 440500 | 4 |
0.125 | 344281 | 2 |
0.130 | 350000 | 1 |
Last trade - 15.45pm 10/07/2024 (20 minute delay) ? |
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