OEL - (Otto) Multi based, Gambling Stock.

**shasta** · 23-04-2011, 10:58 PM

Originally Posted by Corporate

BHP is key for OEL. However, with Paul Moore jumping ship or being pushed (likely) it isn't looking good!

No, not when he ousted the popular Alex Parks, with whom i assume fell on his sword when the original BHP deal lapsed.

You cant take any announcement of "sudden amicable departures" seriously, least Galoc is paying the bills & adding to the cash balance

Corporate · 24-04-2011, 09:50 AM

Originally Posted by shasta

No, not when he ousted the popular Alex Parks, with whom i assume fell on his sword when the original BHP deal lapsed.

You cant take any announcement of "sudden amicable departures" seriously, least Galoc is paying the bills & adding to the cash balance

I'm really looking forward to hearing about BHP. Either way what happens after will be a buying opportunity I think.

**boysy** · 24-04-2011, 10:58 AM

Yep either way it will beca good opportunity to top up. Will be great buying if Bhp pull out no doubt bout that

**boysy** · 30-04-2011, 10:34 AM

Well the quarterly came out with the cash balance increasing further which s good to see to around ~A$34 million galoc continuing to perform well but on decline now producing ~7000 bopd (net 1300). So they are drilling Duhat-1 with result expected in around 3 weeks and BHP decision must happen in the next 4 odd weeks unless they are granted some sort of extension. Plenty to be excited about if BHP opt in the SP should fly and if they dont it would be a great opportunity to pick shares up around the 5-6 cent mark one would think.

**Rabbi** · 01-05-2011, 04:48 PM

Originally Posted by boysy

Well the quarterly came out with the cash balance increasing further which s good to see to around ~A$34 million galoc continuing to perform well but on decline now producing ~7000 bopd (net 1300). So they are drilling Duhat-1 with result expected in around 3 weeks and BHP decision must happen in the next 4 odd weeks unless they are granted some sort of extension. Plenty to be excited about if BHP opt in the SP should fly and if they dont it would be a great opportunity to pick shares up around the 5-6 cent mark one would think.

Well they must have had a real good look at the Seismic , so if it wasn't prospective they would have been out by now. If the prospect looks good they wouldn't want to lose it to another bidder if the permit lapses. They can get 80% to free carry OEL but then they take all the risk. Hard to say how this will pan out.

**boysy** · 04-05-2011, 03:01 PM

well positive news Galoc reserve upgrade

And not so positive - Current drilling slow progress - http://www.pse.com.ph/html/NewsRoom/..._2011-0008.pdf