Originally Posted by
jdg
good to hear you're still about, shasta.
OEL is particularly unloved at the moment, but i've been buying. ultimately, i'm backing that BHP, having come back to the table and paid for the seismic, will drill a hole or two at SC55. the upside of that news (which can't be more than six months away - and may be much sooner than that) will send the sp into the mid teens. and success at one of those will mean all of our christmases come at once. moreover, i think that Galoc II is enough to sustain the company, and is more than enough to support the current sp. given this, i see the potential for massive upside but little risk to the downside.
further to all of this, we have the potential for some wildcard farm ins at other acreage that could happen at any time.
yip, i like OEL.
in the near term the driver is likely to be the go-ahead for the onshore at SC51. i'm not sure which way that one will go, but i hope the DOE play ball. a drill will draw attention to OEL and the company's other prospects. and, what's more, it will spice up a stock that is currently a little bloody boring to follow. the calm, perhaps, before the storm.
-j