Originally Posted by
Shrewd Crude
I just sat down for abit to go over OEL for the first time in a few years...
I still cant see it in OEL...
it could do ok, but it doesnt have the wow factor...
OEL does have a shot, but Vitol does not pull out on a sound project...
so long as Galoc can maintain a stable profile on oel until they launch their next lead... So that, BHP and other exploration targets provide other upsides...
phase 2 Galoc with the operational downtime impacts the commercial viability of the whole project...
Galoc 2 well lined up, and needed to add to decline...
galoc north inherit with risks but could work...
To sum up Galoc,
It is a grinding project...
OEL will have to increase its reserves to support its current sp in the future...
not ideal...
an oiler like this needs to have protected downside, which OEL does not have...
gL
:cool:
.^sc