OEL - (Otto) Multi based, Gambling Stock.

[Rabbi]

Well the Winx drilling is underway but hold onto your hats as it is frontier country in Alaska.

Winx-1 is located approximately 4 miles east of the Horseshoe-1/1A well that significantly extendedthe highly successful Nanushuk play fairway to the south. Winx-1 will target gross best estimateprospective resource of 400 million barrels of oil (75 million barrels Otto’s 18.75% net revenueinterest) across multiple stacked objectives, including the Nanushuk Formation, which is the primarytarget of the well.

[boysy]

Bring on the lightning well test results .....

[Rabbi]

Yes Boysy they must be due to be confirmed an day now. All they have to be is gusher- gusher -gusher in all zones
an the SP is away.

[Rabbi]

Yes Boysy they must be due to be confirmed any day now. All they have to be is gusher- gusher -gusher in all zones
and the SP is away.

[boysy]

yep i think people are underestimating the size and composition of the discovery - lets hope its a major field development ....

[boysy]

well early indications are that winx is sub-commercial - lets hope they have a lightning update pronto that could really drive the short term upside along with further SM71 infill drilling and the remainder of the Hilcorp programme .....

[Rabbi]

Apparently early indications were a tad cynical Boysy. Wire-line logging will confirm what they actually have, and then they need
production testing. It's looking more on the positive side although statements to the market have been very cautionary to date.
I suppose that is because of the "HUGE" prospective resource they might have struck. Many pundits believe Don Julio
is likely to come in too. Exciting times for Otto, the multi based gambling stock stock, now living up to it's name and rewarding those not scared of taking a punt.

[boysy]

Big week ahead for OEL really could be transformational:

- Lightning update - confirmation of additional net pay if any - flow test update - could be bigger than SM71 to OEL
- DJ update - not expecting much here ....
- Winx-1 update expected by no later than say Thursday, wouldn't be surprised if we hear an update at the same time as the TH is lifted.

All in all could be a hugely transformational week for OEL.

[Rabbi]

The lightening well looks to have exceeded everyone's expectations with the net pay being huge, good flow rate,
together with a high ratio of condensate.
The market is awaiting for more on Winx as these Alaskan prospects can be complicated, to say the least.
Testing continues but I would be circumspect.

[Rabbi]

Winx a duster so onwards and upwards in the GOM. At least we have two producers so far
and some interesting drilling prospects coming up. 88E and Red Emperor sp's hammered.