CARA re "If OEL could get around $120M"
I do not know about $120M but maybe for $150M I would think a sale of Galoc was a good idea.
Add in BHP's money for drilling SC55 plus a $10 -$20M drill contribution from a couple of minor
farm in partners would be the way to go. I recon OTTO's share price would be at least 15-18 cents pre drill , with huge upside on success and minimal downside on a "duster".
OEL is an oil exploration company (not a bank or a telco, or airline thankfully) and OTTO should
focus on exploring for oil and gas.
I do not think the very long term OTTO shareholders (such as the top two shareholders) would be
holding as long as they have to see OTTO turn into a minor production company doing little
more than paying staff wages as the finite Galoc resource slowly declines.
Should OEL consider selling Galoc, page-4
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Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.54M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.2¢ | 1.2¢ | $5.382K | 448.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 852085 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 2189015 | 6 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| OEL (ASX) Chart |