re: Ann: Correction to Information in Investo...
Yes hopefully Winchester farmout in October and Shell on or before 21 October. Obviously some realising potential of this one and pushing the price up. In my opinion 'fair value' would still have to be easily north of double current prices even using the most concervative of valuations. 30c cash plus holdings Gigantor could deliver more than a TCF to OXX. As discussed earlier one TCF would have a value north of 3 dollars per share to OXX. At 10% chance of success that is 30c So we are up to 60 just like that. Then there is the other 3 OMV/ENI blocks. What value? After swollowing Goldborough OXX will have 10.25 + 8.5= 18.75% of Cornea. What value? Shell TBA. What Value? Winchester TBA. What value? Taranaki Basin. What value? The Cue holding in addition to the potential of Artemis, Caterina etc also has strategic value in addition to the face value of the holding. CUE is a great oiler whose potential is just being realised. OXX has been so far off the radar that there has been no real 'market' for OXX as indicated by the lack of liquidy. Hence none for sale, ie no meaningful market and there won't be until there is some real interest and people start doing their 'sums' on the back of an envelope. Today's 27% SP rise on the back of 21,450 shares traded says it all. In fact the only liquidity that has been provided this year must have come from CUE selling down their holding of 2.3m which seems now to have dried up, so perhaps they have sold all of their holding? Good luck all.
OXX Price at posting:
35.0¢ Sentiment: None Disclosure: Held
