OEL - (Otto) Multi based, Gambling Stock.

[AMR]

Arr! It was 6-8 days until first oil 5 days ago! Clearly time stands still up in the phillipines.

[shasta]

Arr! It was 6-8 days until first oil 5 days ago! Clearly time stands still up in the phillipines.

It feels like i've been out of OEL for ages...

Just to think "first oil" was meant to be April!

After what happened to AED, the market is now very skeptical about near term producers & there forecasts/timeframes.

Any delays (& i would have thought 3 - 6 months was the industry norm) get lashed, despite the good fundamentals.

I can't wait to get back in when Galoc is churning out 17,500> bopd. (Net 3,000+ to OEL)

With the Brent oil price currently at $US101.94, & the FX rate $A1.197 (v $USD), things are still looking healthy for OEL, even with the small ~$US5 discount to the Brent Oil price that "GPC*" is reportedly meant to receive.

* GPC = Galoc Production Company

[tricha]

Arr! It was 6-8 days until first oil 5 days ago! Clearly time stands still up in the phillipines.

ARRRRRRRRRRRRRRRRRRRR, know the feeling, how long is a piece of string, this one goes forever.:mad:

R u sure u r not back in already, Shasta, u seem keen on it ?

[shasta]

ARRRRRRRRRRRRRRRRRRRR, know the feeling, how long is a piece of string, this one goes forever.:mad:

R u sure u r not back in already, Shasta, u seem keen on it ?

No im not back in...yet

As well as first oil, we recently learnt the extent of the gas reserves (Edrine), & have the Italian "Gazatta-1" gas drill soon...

OEL are using the same style AVO analysis that struck gas everytime in Turkey, so i'm rather hopeful Gazatta-1 is a large gas find

There are associated risks with OEL, so as always DYOR

[Wysiwyg]

Will Cooper Energy change the focus that IPM/OEL has on the Turkey, Edirne gas project?That is if takeover is successful.

[shasta]

Will Cooper Energy change the focus that IPM/OEL has on the Turkey, Edirne gas project?That is if takeover is successful.

Good point, i've always thought/wondered if OEL would sell it's Turkish gas assets & focus on the Phillipines.

They will need around $A9m for the Gazatta drill, & will need more working capital with Galoc not coming online as expected...

Anyone else receive a copy of the Stock Analysis OEL Special today?

Not sure it can be posted here due to copyright laws, but painted a very rosy picture of OEL.

Peter Strachan has always rated OEL, & in a previous "Smart Investor" mag picked OEL as one of the two best stocks for 2008.

Seems now 2009 will be the year for Otto...

Still urks me that these "experts" don't always properly value all the exploration targets on a risked/unrisked basis.

Gazatta-1 was given a 25% COS - i'd argue with that, the AVO style analysis they used in Turkey (with IPM) has a 100% strike rate from memory...

Still on the sidelines....for now*

* Any capital raising may provide one final cheap entry, before she sets sail...

[tricha]

Thats right Shasta copyright laws.

However what he says is a buy under 40 cents and values them at 80 cents.

Hey Shasta u being the accountant, PPP, where is the best value, holding them on the ASX or NZX ???
AA asked about on the PPP thread and if u do know, it would be appropiate to put it there.

Cheers Tricha

[shasta]

Thats right Shasta copyright laws.

However what he says is a buy under 40 cents and values them at 80 cents.

Hey Shasta u being the accountant, PPP, where is the best value, holding them on the ASX or NZX ???
AA asked about on the PPP thread and if u do know, it would be appropiate to put it there.

Cheers Tricha

I'm not sure to be honest...

Here's the link re volume on the NZX

http://www.nzx.com/markets/NZSX/PPP

Seems more interest on the ASX to me (approx 1m shares traded over last 5 days), & they have more coverage of O&G companies

Maybe an opportunity for arbitrage though, OGC is another classic dual listed share that suffers form being illiquid on the NZX & creates some price discrepancies...

I'd probably buy them on the ASX though

[Wysiwyg]

Good point, i've always thought/wondered if OEL would sell it's Turkish gas assets & focus on the Phillipines.
* Any capital raising may provide one final cheap entry, before she sets
sail...

Thanks for your view.A few unknowns up the track for OEL and Galoc turned out to be way past "expected" first oil as is common for oilers.This week they say.I posted this on 28th. May --

Wysiwyg;202953]I can`t see production expectations being met at Galoc, and I think that because almost every oiler I have studied over the last 4 years has expected more and produced less.

A poster on another thread has a nic BESBS. Buy Early Sell Before Spud.Trouble is missing out on any substantial find but certainly de-risking by half would be a good strategy too imo.

A fan only at the moment.

[shasta]

Thanks for your view.A few unknowns up the track for OEL and Galoc turned out to be way past "expected" first oil as is common for oilers.This week they say.I posted this on 28th. May --



A poster on another thread has a nic BESBS. Buy Early Sell Before Spud.Trouble is missing out on any substantial find but certainly de-risking by half would be a good strategy too imo.

A fan only at the moment.

OEL - Po Valley Exploration Update...

Gazatta-1 drill now not likely until Jan 09, although disappointing OEL simply don't have the funds at present, & must focus on getting Galoc up & running.

The wait is nearly over