Strike�s stock debuts on third German exchange

FOR the third time in less than 18 months, Strike Oil has found itself in an unsolicited listing on a German stock exchange.
Strike’s stock debuts on third German exchange Strike’s stock debuts on third German exchange Strike’s stock debuts on third German exchange Strike’s stock debuts on third German exchange Strike’s stock debuts on third German exchange

The company told the ASX yesterday that its shares are now trading on the Munich Stock Exchange.

In October 2004, the company announced its unauthorised listing on the Regulated Unofficial Market of the Frankfurt Stock Exchange and the Berlin Bremer Stock Exchange.

“This facility was instigated without Strike Oil’s knowledge,” the company said in an announcement to the ASX yesterday.

“Strike Oil has no reporting, regulatory or other compliance requirements to this exchange.”

The Munich Stock Exchange uses a MAX-ONE fully-electronic trading system, in which investors do not need to involve the company when seeking to initiate a quote. As a result, the MSX currently trades about 3600 international securities from 60 countries and has become a niche for private investors.

While the system could cause volatility due to arbitrage opportunities, Strike technical director Jim Durrant told EnergyReview.net the listing could be a positive move for the company.

“We’ve done nothing to promote it and signed no paperwork, however, we do have shareholders over in Germany that could have put this request in,” he said.

“If anything, the listing could be positive for us, as we will be trading over there while the ASX is closed here and vice versa.”

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