Quote Originally Posted by boysy View Post
So they have sold turkey for $US3.1 million not a great price tag but i guess the company could see the writing on the wall from the production profile.

http://www.asx.com.au/asxpdf/2010121...wtxb0hw8xd.pdf
Am a bit disappointed with the sale price, especially no royalty clause

Yes, the gas production has plateaued (& would fall off quite a bit during 2011 which is natural), but at least OEL is going ahead with its focus on oil & gas in the Phillipines & divesting its other non core assets

I dont expect the market to react to this at all, im waiting on more details on Galoc phase 2 now, economics must be looking good with Brent oil @ ~$US91/bbl