OEL - (Otto) Multi based, Gambling Stock.

[shasta]

Hi Shasta,

I do agree about the connection and magnetic forces .... lol

And I honestly, see a re-rate for OEL....not only because Philo and Turkey are already a success and perhaps St. Rosa - Argentina........ but, also because of the SP.

And just adding...... I do hold both

I hope you had a nice, relaxing and enjoyable weeekend.......

Here I had "1 million calls" this weekend...........my time was and work, work and more work.....hehehehhehe that's life for us.,.... heheheheheh can't complaint really...... ohhhh yesssss I can..... hehehehehee

catch ya

Got greedy & placed a low ball offer in for some more OEL, never got anywhere near hit...

May even try & snare some HZN on the cheap too

[shasta]

Got greedy & placed a low ball offer in for some more OEL, never got anywhere near hit...

May even try & snare some HZN on the cheap too

OEL - New CEO

http://www.stocknessmonster.com/news...E=ASX&N=450502

Paul Moore now has the reigns at Otto...

His credentials look good, his "options" are out of the money, & he's subscribing for $100k worth of shares @ $0.08...

Ok, it's above the current SP, but i'd have liked to have seen him pay double digits, as a show of faith!

Ron - Whats the deal with Alex Parks leaving...

The way the ann was written suggests to me OEL's poor performance has lead to his demise (without saying that of course!)

I thought Alex had done a pretty good job, seeing OEL thru the transition for explorer to producer, & now someone else is brought in?

I get a bit nervy when CEO's/CFO's leave suddenly...

Usually there are extra costs associated with it & some upheaval that's not apparent to the market!

Any hint of bad news surfacing & i'm out...

Can anyone else shed any light on this?

[shasta]

I should mention in the last Annual Report, Alex Park had a beneficial interest over some 6.5m shares...

If he was to sell out, thats about 3 days volume, nothing to be concerned about

[shasta]

I should mention in the last Annual Report, Alex Park had a beneficial interest over some 6.5m shares...

If he was to sell out, thats about 3 days volume, nothing to be concerned about

Well, while the market is in sell down mode, i picked up some more OEL today @ 7.2c

Gonna look exceptionally cheap come Santa "Monster" Rosa time

[Rabbi]

All I can say is Austral Pacific Energy had three CEO's in four years and went belly up.

I bought into Otto on the strength of the management, Alex Parks in particular. Usually these swift exits are the result of some major disagreement with the Board over the direction of the Company. The CEO can't get his own way and says, screw you guys I'm outta here.

[Huang Chung]

I bought into Otto on the strength of the management, Alex Parks in particular. Usually these swift exits are the result of some major disagreement with the Board over the direction of the Company. The CEO can't get his own way and says, screw you guys I'm outta here.

I'd be looking to see if another shoe drops sometime in the near future, like the departure of the CFO, a director etc. Usually a good sign to head for the hills.

[shasta]

I'd be looking to see if another shoe drops sometime in the near future, like the departure of the CFO, a director etc. Usually a good sign to head for the hills.

The Board/Mgmt team still looks impressive & the new CEO certainly has the CV worthy of the top job.

However, the "swift" transition with no notice, worries me

Tells me they had been looking already & that this was planned?

Alex Parks was brought in to take OEL into production & beyond...

He alone is not the cause of the OEL SP slump, what is though:

1. The global recession/credit crunch

2. The typhoon season affecting Galoc Production

3. The Galoc Production Company made some mistakes in the ramp up, which caused delay after delay

4. The price of oil retreating from highs

5. The need for more cash, resulting in further dillution (due to delays)

6. Calauit not going into production on time*

7. Farm out with BHP falling through*

* These may be partially attributable to Alex Parks, but he isn't solely to blame.

Hardly a glowing endorsement by the Board on the way out either

[shasta]

OEL/NDO - Galoc Update

http://www.stocknessmonster.com/news...E=ASX&N=450626

[trader10]

I've sold all my stake on Otto this morning....

I need the money for another investment....

Good luck all


I will watch St Rosa closely and if it comes good I will be back in....

cheers

[shasta]

I've sold all my stake on Otto this morning....

I need the money for another investment....

Good luck all


I will watch St Rosa closely and if it comes good I will be back in....

cheers

Good luck elsewhere T10

Cant help but think you've left the party before it's started!

Debt free & the cash soon to follow, make sure your back in time for Santa Monster aye