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I have No Idea What Will Happen

 In my wanderings through the fertile plains of the ASX, I have come across a couple of companies trying to achieve the same result. It is almost certain that neither company knows of the other's existance or they would both be trying to invent the same wheel.

Otto Energy (ASX: OEL) and Carnarvon Energy (ASX: CVN) both want to do a capital return. That is where they give money back to their shareholders.

CVN's share price is currently 11 cents and they are looking to return up to 7 cents per share (that means give 7 cents a share back to shareholders). Will this drop their share pice to 4 cents? I have no idea, but I will watch and see.

OEL's share price is currently 1 cent and they are looking to return 0.8 cents per share. Will this drop their share price to 0.2 cents per share? Again, I don't know.

Both are stuck at the same point. Each is negotiating with the Australian Tax Office about how to go ahead with this in a way that doesn't disadvantage their shareholders. Imagine if they knew about each other and worked together, they could save a bit of cash and a lot of hassle.

For me, this is a learning exercise. I am really interested to see what happens to the share prices and to the companies.

Should I have jumped in now to claim the return of capital and still be holding shares? I haven't the faintest idea? Hindsight will tell.

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