Whats the use of being on the ASX, as OG own 70%??
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I see the market is excited by it all....27k traded and down 1c :sleep:
What sector would you like exposure to ATM,if you've been paying attention and looking at the big picture globally.Disclose this is the smallest and lowest quality energy stock I hold,my biggest and best is Woodside.
I think its cash to get more of CUE and then leave the nzx holders in the rearview.
They are talking about lending money to CUE. Getting a better hold any way they can without bumping up the sp. Looks sus
Closed at 49c. Goes to show what holders think of the cap raise.
Reminds me of the old days with Tony Radford and the way they circled the wagons with Mineral Resources, United Resources and NZOG.
No need to reinvent the wheel, just get the old playbook out and tweak it a bit.
Agreed Sideshow Bob. Just raising capital so management can keep themselves well cared for. Shares were $1.40 way back in the early 1980's at 1980's money, should be several dollars now 40 years later just to keep pace with inflation.
Its been a lucrative gig for management over the decades but an appalling long term investment for shareholders.
Just as well this time its different, and they will develop their reserves and generate mega cash flow and make massive payments to shareholders or will they ? I reckon this is nothing but a gamblers stock and the best strategy is to sell when they're drilling and buy back when they hit a dry hole. Might have done that myself a few times over the years :D but I lost the taste for it after the Pike River Coal disaster.