All hail the new King?While the champagne was flowing this week...

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    All hail the new King?While the champagne was flowing this week at Woodside HQ, just a short walk down the terrace something else was bubbling away at an oil and gas company of a slightly different scale.M3 Mining has a market capitalisation of about $2 million – not exactly the $42 billion financial muscle of Woodside – but it can go toe-to-toe with O’Neill’s giant in the drama stakes.A shareholder meeting notice was lobbed in early April to roll Russell Davis, Simon Eley and Dermot O’Keeffe from the M3 board, sparing just Eddie King.With a successful spill looking likely, chairman Davis soon walked.And then things got interesting over the past week.Executive director Eley put M3 into a trading halt for a capital raise and “proposed acquisition”. But just four days later that plan was aborted.M3 instead decides to sell an oil and gas exploration asset in North Africa the ASX-listed minnow is said to have poured around $1 million into over the two past years.The buyer of the asset is a newly incorporated entity that shares O’Keeffe’s residential address.Jerboa Energy is paying $10,000 up front plus $140,000 if a “hydrocarbon permit” is granted.M3’s shares lost more than 13 per cent over the next two days.When it comes to the art of the deal, Donald Trump eat your heart out.Then, in a final twist, M3 disclosed on Thursday the meeting to roll Eley and O’Keeffe on Friday had been cancelled.Eley had been removed as the contact person on the ASX disclosure, with King taking his place on the throne.
 
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(20min delay)
Last
2.7¢
Change
0.000(0.00%)
Mkt cap ! $2.262M
Open High Low Value Volume
2.7¢ 2.7¢ 2.7¢ $5.629K 208.4K

Buyers (Bids)

No. Vol. Price($)
2 327879 2.6¢
 

Sellers (Offers)

Price($) Vol. No.
3.0¢ 49750 1
View Market Depth
Last trade - 14.03pm 28/07/2025 (20 minute delay) ?
M3M (ASX) Chart
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