Good news for OEL holders--------farm out BHP.
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Hopefully the reimbursement of costs on SC55 to date will assist OEL getting thru the tough times...
Higher oil prices ahead when OEL starts receiving cheques :D
I'm still watching OEL, but there are too many variables still for me to buy back in.
I would urge all Oil fans to read over the AED problems before buying into any near term producers...
The market is rightly hammering ANY problems
Yes, regarding Puffin (this also explains NWE's poor perfomance)
I guess from the bullish talk from management in the lead up to first oil & the subsequent problems since then.
AED was around $11 (with the market pricing in 100% success IMO), & fell to about $1. This highlights my point, you get it wrong the market WILL punish you.
It's not the size of the oil field, but rather the flow rates that determine the success or failure, as all producers have a marginal rate that is required to make a project viable.
One of the better examples of a successful transformation into production is our own NZO!
For me OEL will be worth re-visiting mid 2009, by then Alex Parks will have turned things around, or OEL will be toast :confused:
OEL is amongst the walking dead stocks . Just one problem at the Galoc field and the banks will do what banks often do....... screw , not drill ....
OEL has to be around in 12-18 months time to benefit from BHP
OEL - Santa Rosa gets the green light... :cool:
http://www.stocknessmonster.com/news...E=ASX&N=434611
Might have to buy a few OEL just before the drill bit hits play dirt in Argentina. :D
I say sell the Turkish Gas interest to IPM & drill the ar$e out of Santa Rosa!
Ron - You still in on this? (Any goss re Argentina?)
Hi Shasta,
Yeh i've been buying cheap and selling, riding them up and down still have 300k, i have been playing with them and done alright. i will pm you if i get the goss. Goss--- look at WCL, look good to me. Talk is there are only going to be a couple of players at Gladstone but which ones?
OEL - West Turkey well finds net pay 27m gas ;)
http://www.stocknessmonster.com/news...E=ASX&N=435199
I'm keen on OEL again, the gas assets in Turkey when hooked up & going to be substantial revenue for Otto, once again there AVO style analysis strikes (is it now 100%?)
Po Valley, Italy looks a better than even bet to find a decent gas find too.
I'll be keen on any capital raising to drill Argentina to bits :D
OEL's actual ann (a bit different to IPM's)
http://www.stocknessmonster.com/news...E=ASX&N=435208
all time lows today...
any idea when Galoc production starts up?
:cool:
.^sc