The problem with that trend now is that the oil is too heavy. Fundamentals have changed and the risk profile has now changed. Reminder it was a 1.2 billion dollar basin and now with the fall still a 850 million dollar basin on heavy oil for making roads and plastic for domestic market still heavily over valued. My sentiment for MAY is a sell now after this result for heavy oil
IVZ is proven light oil and market cap of 220 million for the basin.
May Chart, page-10514
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Last
2.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $67.40M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 2.0¢ | $37.57K | 1.856M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 11509043 | 2.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.1¢ | 1523856 | 5 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| MAY (ASX) Chart |