OEL - (Otto) Multi based, Gambling Stock.

[boysy]

lets hope they have called heads or tails right on this drill .....

[Rabbi]

They must be gathering more drilling data . Leaving us all to speculate all weekend over the permeability, porosity, and huge pay zone of the

elephant they tripped over.

[boysy]

yes not long to wait wouldn't it be great to have hit commercial hydrocarbons on the first hilcorp drill ....

[Rabbi]

yes not long to wait wouldn't it be great to have hit commercial hydrocarbons on the first hilcorp drill ....

Unfortunately well was sub-commercial and the dumping today is an overreaction to the news. All part of the oil business
and if you can't stand the heat you shouldn't be invested in this sector. The worry would be if every well came in a duster
but that is a worse case scenario, which I can't see eventuating with today's seismic technology.

I recall the ex CEO of Victoria Petroleum (now Senex Energy) being referred to as "dry hole Johnny" as he had a bad run of dusters.
Towards the end of his tenure however, he had quite a bit of success and was CEO when they discovered the Growler
field. Every exploration well is a roll of the dice.

[upside_umop]

Look at the latest on HC it appears as though the P&A permit was verbal only and has now been withdraw good thing it’s in trading halt would of been traders paradise all of the misinformation flowing around ....

Interesting that results were obtained so soon - was expected to take 75 days from late August and as recently this month, Otto communicated results were expected in November. I never got to sell any down but nevermind.

Also disappointing re: Big tex. That's the nature of the game. Still there are exciting prospects to come and on a risked basis, it says we should hit something commercial....here's hoping anyway!

[Rabbi]

I'm tempted to buy more of these at today's prices before the crude price recovers, if it ever does.
The tree is certainly getting shaken at the moment, with Woodside ,Santos and Beach taking significant falls yesterday.

[Rabbi]

OEL in partnership with operator Hilcorp have made a significant discovery in the GOM with the Lightning prospect coming in with 180m
net pay.

Lightning Well Delivers Significant Gulf Coast Discovery

Lightning Well Delivers Significant Gulf Coast Discovery

[boysy]

Good jump today think this is just the beginning looks to be a huge find in comparison to what they thought they were drilling for ...

[Rabbi]

Good jump today think this is just the beginning looks to be a huge find in comparison to what they thought they were drilling for ...

Yes, Boysy it could be a ripper and I wait for production testing with anticipation. However, it is only a minnow in comparison to Winx in Alaska, where the real Elephant hunting is taking place on or about the 15th.
I'll give the OEL team their due, they are not afraid of the drill bit. Compare with NZO in NZ who have done next to nothing over the last t few years.
You pay your money and you take your chances in this game.

[boysy]

Agreed but good to have a few irons in the fire a find at lightning could be just icing on top in Winx-1 comes in ...