I think O&G stocks require a lot of patience and a little bit of luck. @gosh can attest to the multiple failed breakouts in BUY in the early days under 1c likewise BPH. A bit of patience there eventually saw more than 500% return. It looks like BPH from the 1.5c levels to 30c would be 2000%.
The big price appreciation will come on drilling Beehive or Cuba, whichever comes first. I don't see the point in fussing over the moves in the SP until major news or catalysts. Remember there is close to 2Bn barrel of oil potential between MAY's various leases.
A quick recap of the assets below.
- Beehive 1.6bn barrel potential;
- Cuba Block 9 PSC 235m barrel potential;
- Cuba Santa Cruz 100m barrel potential;
- Tassie Methanol and LNG Expansion potential to 4Mta
I think O&G stocks require a lot of patience and a little bit of...
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Last
5.3¢ |
Change
0.003(6.00%) |
Mkt cap ! $178.6M | |||
| Open | High | Low | Value | Volume |
| 5.4¢ | 5.4¢ | 5.0¢ | $154.8K | 2.985M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 5.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.3¢ | 113206 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
5.3¢ |
Change
0.003 ( 4.33 %) |
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| Open | High | Low | Volume | ||
| 5.4¢ | 5.4¢ | 5.0¢ | 1347067 | ||
| Last updated 15.56pm 03/05/2024 ? | |||||
| MAY (ASX) Chart |