With three cents of cash per share, with one elephant down in the Gulf of Mexico, another possible elephant in Alaska, and the US being a terrific jurisdiction for all things oil (they go to war for it any given day), the risk-reward rests on the underlying commodity: oil. This is mitigated to a degree by the elephant(s) in the room.
On top of the above, I enjoy profitting from companies trading below book value, $0.07 in OEL's case.
OV
PS Yes, in with an initial position yesterday, in preparation for a series of bullish news releases, intended to average UP from, ie. the key short term risk for me here is a missing a material break out UP.
With three cents of cash per share, with one elephant down in...
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Last
1.3¢ |
Change
0.002(18.2%) |
Mkt cap ! $62.33M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.3¢ | 1.2¢ | $1.749K | 143.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 657928 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 2255921 | 6 |
View Market Depth
| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| OEL (ASX) Chart |