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Guys

I have a simple question, if the company is so cheap and by selling their assets they could realise over 2.5 times the share price net of debt why haven't they been taken over. An Australian company using either the cash or script could take them oer and clear the US debt easily now that the AUD is so high

It's a serious question, I want to re-enter this one, I lost money on it when it was in the 80s and the GFC had just commenced and I got stopped at 79. I then made a bit trading it in the low 30s. They have issued more shares however they have reduced their debt also and the oil price is what it was when ti was in the 80-90s.

If you look at broker valuations and the current share price its currently one of the most if not the most undervalued oiler in Australia. One down side it always adds reserves in a very incremental fashion where each addition on its on doesn't add that much but a few of them together add a fair bit of value. Is it simply too boring for most punters