Yes I also hope that minority shareholders aren't burnt here.
I also think the Directors do have an obligation to advise shareholders of the potential significance to LIO of the Nief Utara discovery as I personally feel it has been underplayed to date.
We have the CEO of the operator,Citic Resources(51% JVP)stating that it is a significant discovery(Citic being a Honk Kong listed company with a $A3billion dollar market cap).It's important to note from their announcement the thickness of the oil reservoir in both zones from the Schlumberger logs.
And we have KUFPEC(30% JVP)in their release stating the following:
'Nief Utara A-1 Exploration well preliminary analyses indicate 60ft net gas, 70ft net oil column.Well on Pressure Build Up Test and JVPs await POP(Put on Production)approval.'
www.kufpec.com/KUFPEC/en-US/News/20080526d.htm
Hopefully the market will price LIO shares at a more appropriate level before Directors issue more shares to fund exploration in PNG.
No doubt we will get a release tomorrow on the settlement of the PPU purchase so let's hope it contains more detail of the transaction/plans.
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lio acquires 19.49pc of papua petroleum, page-11
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Last
2.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $12.23M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 2.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.7¢ | 22730 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 0.023 |
2 | 195237 | 0.021 |
3 | 375500 | 0.020 |
4 | 636000 | 0.018 |
2 | 1030000 | 0.017 |
Price($) | Vol. | No. |
---|---|---|
0.027 | 22730 | 1 |
0.028 | 204152 | 2 |
0.029 | 17275 | 1 |
0.030 | 651243 | 7 |
0.031 | 342500 | 3 |
Last trade - 16.12pm 06/09/2024 (20 minute delay) ? |
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