Production of the Pompano gas project is imminent, but what does this mean for the share price? Looking at the depth today, sellers are lining up and far outweighing buyers. In the 20.5 to 21.5 cents on the sell side there are 532k shares for sale while in the 19 to 20c buy side there is only 77k shares sought. Up until this week the buy-sell ratio was very much on the buy side. It seems to me mysterious that sellers are lining up to bail out just when production is about to begin and, one would have thought, a share price rise.
So what does production really mean? Dividens? Listing on the All Ordinaries? SP rise or fall? Anybody have any ideas?
If the Production in 7 days is accurate then we expect to see production by the 13th ie Thursday. Surely this is good news, even in a bear market?
Robert
production imminent
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Last
12.0¢ |
Change
0.020(20.0%) |
Mkt cap ! $136.0M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 12.0¢ | 10.5¢ | $191.0K | 1.709M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 175000 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 868451 | 9 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| EXR (ASX) Chart |