7 pence is about 13 Australian cents although I can imagine Magna wanting to get hold of it for much less than that IMO. I'm only optimistic to the point that if it this has been played down like many spec companies it will likely go for another run in 2015 providing OEX does not declare bankruptcy.
The only things I have heard about Canning are what have been released to the market but I think considering the current market conditions JV partners are hard to come by I wonder if the appointment of Chris Bath (CFO) and his experience in Australia top 200 oil/gas companies will help them achieve a deal in this area.
OEX Price at posting:
6.0¢ Sentiment: None Disclosure: Held
