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Flannerys back IPO candidate Omega Oil and Gas

“The Flannerys are Omega’s biggest shareholder pre-listing, and are said to be tipping $5 million into a $15 million initial public offering for Bowen Basin junior Omega Oil and Gas.” 

Financial Review,

Article originally published by Financial Review,

Hats off to energy entrepreneur Trevor St Baker and coal investor Brian Flannery for taking a punt of NSW white elephant Vales Point, and turning it into a big win.

The pair paid $1 million and assumed liabilities worth about another $30 million in 2015, only to sell it over the weekend for more than 10-times their investment.

Street Talk’s spotted somewhere Flannery and his family may be looking to spend some of their newfound loot.