The market took a while to crunch the numbers ie. 2300 bopd net to OEL so a re-rate was on the cards. I expect it to go a bit
higher before it consolidates. They couldn't have got their timing any better, having got production under way with Brent at
a 3 year high.
The drilling of Bivouac peak later in the year will be a further catalyst for the SP as it is a highly promising prospect.
I'm very much enjoying this, but I'm a bit miffed I sold just under half my holding before this latest takeoff. Still, OEL has treated me very well and continues to do so. Long may it continue.
Grapes i still think OEL has a fair bit to run, it looks like who ever wanted out is out and new players are keen to get in. Great buying in the sub 6c space post results
Time is a great teacher, but unfortunately it kills all its pupils
It's about where I expected it to be immediately after first oil. I'm now looking forward to dipping the drill this year to see if we can get even luckier.
Man-oh-man that sp is volatile at the moment. I'm pleased that it's generally heading in the right direction, though.
Grapes, I would say that traders are in command at the moment, as there is no relevant information not factored in that would provide further impetus to
the SP.
Once we get the cashflow figures confirmed at the end of the quarter, and confirmation of a firm commitment to drill Bivouac peak we should take off again.
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Originally Posted by Grapes
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