NGE 1.35% 73.0¢ nge capital limited

Takeover looks on the cards

  1. 5,038 Posts.
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    Following today's trading the 2 largest shareholdings have changed hands @ 1.6 cents (the first was at a premium to the then market price). Theses being the Holdings of Buttonwood Nominees (12.8%) and CS Fourth Nominees (6.44%). Therefore someone has just bought 19.2% of the company.

    There are 850M shares in issue, the top 20 held 57% of the company (needed a 5M+ holding to be in it). There were only 786 accounts with over 100,000 shares in them making up 92.4% of the company.

    The Company had A$17.4M in cash and only had a market cap of A$11.9M @ 1.4 cents. It has further earn-in clauses with Exxon & Santos (separate transactions) which could bring in up to A$28M more + a royalty interest on future production.

    It also has 50% of a drilling rig & all that goes with it (mobile camp site etc) which is contracted out to someone at the moment. It has invested over $13M in the venture (the other 50% owner is one of NGE's directors).

    New presentation out today for viewing ( board are looking for other oil & gas projects etc)

    I Expect to see corporate action in the days ahead, following today's trading.

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Mkt cap ! $26.40M
Open High Low Value Volume
73.0¢ 73.0¢ 73.0¢ $14.22K 19.49K

Buyers (Bids)

No. Vol. Price($)
1 20700 72.5¢

Sellers (Offers)

Price($) Vol. No.
73.5¢ 5048 1
View Market Depth
Last trade - 15.55pm 26/11/2021 (20 minute delay) ?
NGE (ASX) Chart
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