Cant help but wonder why Albers put through the AGM motion to increase the placement capacity. He already has the 33m treasury shares that could be sold to someone coming in plus the existing 15% cap. Could be he has a big deal in mind or Albers must be in his mid seventies by now, I wonder if he is lining up his exit strategy if Matuku does as expected and bring hom the oil bearing bacon. NZO, OMV, HZN, to name but a few would jump OXX given the chance. I guess it would be a different group though is Matuku comes in, 17.5% of 65m bbls ($120) is pretty serious coin. Even insitu given adjacent production options, the field would be worth high side of $1.5 billion. Add in the string of pearls prospects and OXX would be a valuable company.
OXX Price at posting:
20.5¢ Sentiment: ST Buy Disclosure: Held