OEL - (Otto) Multi based, Gambling Stock.

[jdg]

Hey guys, my first post in ages. I trust everybody is well.
I read the release and got very excited, but I will wait to see what the story is before popping the corks. Could the 'completion of the farmin agreement' mean that it has simply lapsed? I don't think so, but who knows with this lot?
If, as I expect, it's a signature on the bottom line I think we'll finish over 14 cents. I don't want to contemplate the other possibility.
Many of us have held OEL simply based on the possibility of this deal...let's hope we are about to get our reward.
Good luck to holders.

-j

[boysy]

Lets see the detail once would think we will get an ann today after if we get the BHP signature and go ahead from houston. Will be interesting to see how much cash in the hand otto get as the original farm in option noted they would get 100% of past expenditure on sc 55 this could be quite a tidy sum in itself. You have to question how many people will want to enter and how many will bail considering 80m shares changed hands on the farm in option announcement some time back

http://www.stocknessmonster.com/news...E=ASX&N=476756

[shasta]

Lets see the detail once would think we will get an ann today after if we get the BHP signature and go ahead from houston. Will be interesting to see how much cash in the hand otto get as the original farm in option noted they would get 100% of past expenditure on sc 55 this could be quite a tidy sum in itself. You have to question how many people will want to enter and how many will bail considering 80m shares changed hands on the farm in option announcement some time back

http://www.stocknessmonster.com/news...E=ASX&N=476756

80m shares is less than 10% though, so its not too much of a shake up, probably a few traders jumping in, i dont remember much top 20 activity

[boysy]

with 70% of the shares held by the top 20 you have to question how many freely floating shares are about. No real trading to speak of late this one really has been kept from insiders no obvious volume spikes over the last few weeks good to see they are running a tight ship either way it turns out.

[jdg]

that's the news we wanted! i would like to have seen a comment from BHP, though.
now, let's see how the market reacts.
should be a great day for otto holders.

-j

[jdg]

i was expecting a better opening than that. people are clearly selling the news. buy/sell ratio is terrible. what does otto have to do?

-j

[boysy]

hugely important news yet little more than a nudge upwards. The cash ehading Ottos way as a result of being paid back costs i would expect to be larger than the move today a joke really they got great terms we now know they wont have to pay for the well and galoc phase #2 looks more and more likely what else do they need to do righ lol a great buying opportunity.

[Rabbi]

Obviously the farmin decision was factored in ages ago, and with BHP vacillating the SP subsequently drifted. Since the prospect isn't gong to be drilled until 2012 some speculators are taking the opportunity to get out while the goings good. Investor briefings aren't perceived by the market as anything but oil company spin about their future progamme, which invariably gets pushed out into the everlasting future.

Everyone got excited over CSG about two years ago, and all the CSG juniors could do was over promise the market about how much reserve they could prove up. Then when they couldn't stick to programme, mainly due to weather constraints investors got sick of waiting and headed for the hills.

Galoc phase 2 might see some appreciation but it will still take time to recover costs.

The rumours seems to be always better than the news in this game. When OEL were in
Argentina the SP was over 30 cents just on speculation of a huge prospect.

[shasta]

Obviously the farmin decision was factored in ages ago, and with BHP vacillating the SP subsequently drifted. Since the prospect isn't gong to be drilled until 2012 some speculators are taking the opportunity to get out while the goings good. Investor briefings aren't perceived by the market as anything but oil company spin about their future progamme, which invariably gets pushed out into the everlasting future.

Everyone got excited over CSG about two years ago, and all the CSG juniors could do was over promise the market about how much reserve they could prove up. Then when they couldn't stick to programme, mainly due to weather constraints investors got sick of waiting and headed for the hills.

Galoc phase 2 might see some appreciation but it will still take time to recover costs.

The rumours seems to be always better than the news in this game. When OEL were in
Argentina the SP was over 30 cents just on speculation of a huge prospect.

So OEL closed at its intra day high of 11c (+1.7c) with ~20m traded, technically tomorrow should open strong as the news filters through the market

[jdg]

hey shasta,
intra day high, sure, but hardly a big move. i hope we see some strength tomorrow but i don't feel great about it. when we hit 12 cents after the news BHP were having a look (12 months or so ago) we had a few more prospects (turkey was looking like the business, and SC 51 looked to be a good farm in - neither really worked out). are we now a one hit wonder?
i don't think so. galoc 2 is a gimme, and 69 is shaping up. lotto may come in with duhat. galoc 1 still has a lot to run given recent p1 upgrades. i think the market has this one wrong, but i'm not confident we'll see a turnaround soon. OEL is clearly an unloved stock. i feel we will be rewarded, but i can't see it happening soon given today's action. i hope i'm wrong. and i'm sure boysy agrees (that i'm wrong, that is).
-j