OEL - (Otto) Multi based, Gambling Stock.

[boysy]

Next few trading sessions could be interesting to watch glad i loaded up in the cap raise, think this has a lot more to run based on oil found in the ground and cashflow now being generated

[Grapes]

I'm surprised it has been a bit sluggish. my 8c call is looking a little way off, but I still think it will get close when F3 comes on and flow rates are finalised.

[boysy]

Grapes i think with the exit of santo sentiment could change quite quickly, if the wells can produce well in excess of the platform capacity on choke things could get interesting. F3 should be the best producer so hopefully will produce well in excess of the 2000 bopd and 1mmcf of gas the other wells are producing. They should get ~USD$70 a barrel producing 42 api oil, cash should be king from here on out ....

[Rabbi]

Since then well pressure has dropped in F2 so only producing at 450 bopd at F 2 . They still have F3 to complete so once that is up and running market should re- rate
OEL on stabilized flow rates on all 3 wells. It might run to 7 or 8 cents if F3 is the gusher they think it is.

[Grapes]

Yeah, in the short term it's all about what F3 does. They seem confident and it has got great pay depth. Fingers crossed.

[Grapes]

If were going to get a bounce we would have seen it. I'm rather surprised by that, perhaps if F2 had been stronger and we were closer or over that 5k mark.

[boysy]

All the wells continue to be choked back from optimal production. As per the last Ann it looks as though the limiting factor is not the wells but the platforms current 4300 bopd capacity. All in all assuming they can utilise the full capacity of the platform of 4500 if and when the updates occur is a great result. Currently priced at a circa 3x PE which won’t last long albeit santo offloading their holding just prior to production has done no favours to the SP. think it will take another few weeks for those that bough at 5.5 to sell out at 6c for a 10% profit ...

[shasta]

OEL has always had a lag on share price when production starts, when shareholders see the cash flow in the bank it will move.

Goes back to the Galoc project days where good news didn't register and weather related delays hit the share price.

Are they getting the Brent price for the oil, does anyone know?

[boysy]

Louisiana light which is a similar price to Brent ie $3 premium to WTI

[Rabbi]

OEL is up and running after they released their quarterly, with their revenue from SM71 impressing the market. More drill and thrill to come in the Gulf

of Mexico later in the year from this Aussie Junior.