BUY 20.0% 0.6¢ bounty oil & gas nl

out of cash again

  1. 1,747 Posts.
    The failed drilling program in the Preth Basin has left a few depleted companies in it's wake and Bounty is no exception.

    It's half yearly report lodged today shows only enough cash to meet current liabilities so it's on the ropes or back to a capital raising again.This market will not support another issue of shares above 5 cents.

    I also note that they are asking to defer the survey work on the Sydney Offshore Basin.Hardly a confidence builder.

    Overall a very dissapointing report.

    Regards M.
 
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