Anybody taken a look at this recently listed ASX stock which had previously been listed on the NSX.
Octanex N.L. is an Australia-based company engaged in petroleum exploration and investment. The Company holds direct and indirect interests in 11 petroleum exploration permits in the offshore basins of Australia, with a concentration of these permits on the Greater North West Shelf offshore from Western Australia. These permits are located in areas of intense exploration activity. Five of these located in the offshore Exmouth Sub-basin (WA-384-P, WA-385-P, WA-394-P, WA-322-P and WA-329-P). Two permits are located in the Dampier Sub-basin (WA-323-P and WA-330-P) and a further two permits are located on the Exmouth Plateau (WA-362-P and WA-363-P). The other two are in the offshore Otway Basin (EPP34 and Vic/P61) in south eastern Australia.
They also have an application for a permit in NZ'S Taranaki basin.
30 million in cash and investments totaling 13 million.
Very tightly held stock so certainlly not one for the traders.