special dividend, wow, thanks, page-13

Oh no...another oil gas exploration company throwing their money away.

Keep in mind OXX was trading at almost cash before the dividend announcement.

OXX cash = $31m
OXX investments = roughly $10m

Shares on issue = 275,000,000

Cash backing = 15c

Dividend payment = $11m

New cash backing balance = 11c

With no drilling happening for yonks, the sp could possibly visit 11c or there abouts once this goes ex-div. Is this risk worth the 4c dividend?

crazy logic to buy on a dividend announcment. (this goes out to the 200k buyer at 25-26c)