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3.6¢ octanex limited

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Crackity

417 Posts.

47

05/03/15

15:33

Post #: 14866014
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Originally posted by kartel ↑

Crackity - It is not that simple. OXX would have to put PKO into receivership. PKO will be defaulted out of the SBA JV by its partners and furthermore, OXX doesn't want the SBA commitment otherwise they would have been better off merging.

You see OXX has:
1. Terminated the Canning venture
2. Cancelled the merger with PKO, which was the new drive into SE Asia
3. Ophir, well you can read the article and conclude where that is headed
4. Faming out their traditional acreage is neigh impossible in the current market
5. Closed the Perth office

You then wonder the value of OXX and what the future holds.

Expand

Not sure they do have to put it in receivership - they have first ranking security over all the Peak
assets because of their loan - the SBA holding is in a separate company they can take direct control of.....

We shall see soon I believe....

Regards!

OXX Price at posting: 7.2¢ Sentiment: Hold Disclosure: Held
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