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clock Created with Sketch. 30/12/22
12:47
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Originally posted by Minim Cove:
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You have got to be dreaming Ralph. If this companies future was so rosy. Why would these high net worth management and their very wealthy contacts not rattle the tin and raise $40mill to drill three more wells to try and test the concept again. After all they stand to gain the most with their large holding. If you think logically it suggests that they don't believe the risk is one worth them taking. Therefore it is a hard sell to anyone else. I think they are happy to pay the Macquarie debt and themselves over coming years. Remember the oil flow can only go one way if you are not introducing new wells and reducing your land holding. Unless something unusual happens from left field I cant see this surviving long term. Think logically why would someone pay $480 Mill for something that has a market cap just over $40 mill. I think if someone offered 10 cents per share ( $130 Mill) which is extreme, I think they would be knocked over in the rush by sellers.
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Minim, I'm a bit confused.
(20min delay)