Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Full Research can also be accessed on HIGH IMPACT DRILLING With four fully funded high impact wells expected to be drilled on two potentially company making projects over the next two years, Melbana Energy (“Melbana†or the “Companyâ€) is now realising the fruition of a period where it has built up an unrisked Prospective Resource base of 1.1 Bboe. Three of the wells are to be drilled in the Block 9 Production Sharing Contract (“PSCâ€) on the northern coast of Cuba, with two of the w...
It has been a turbulent three months for MEO shareholders. The Neon merger has fallen by the wayside and NZ production has been shut in. While an unsolicited offer remains on the table, which the board of directors urges shareholders to reject, MEO has undergone a rapid review of costs and has cash to weather uncertainty for a reasonable time. The entry into Cuba weeks before softening of decades-old US sanctions is one to watch and deals in Australia are being executed.
The proposed Neon Energy/MEO merger would create a combined group with c A$37m (as of September 2014) in cash and a diverse Australasian asset base. It would significantly reduce operating expenses and have a focused and experienced group of decision makers at the helm. This would be a confluence of two companies, one with a single asset and cash and the other with lots of assets but not enough cash, the combined entity being good for all shareholders if the merger is successfully concluded.
Following the plugging and abandoning of the Puka-3 well in New Zealand, the Douglas-1 tests are the remaining element of MEO’s staged farm-in to the Puka field that is yet to play out before MEO can establish the value of the field. Newsflow now turns to farm-out deadlines on Australian exploration prospects and potential deals through the Hongfu Fund strategic alliance.
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