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  1. #781
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    should be due for an update anyday now a update on bhp progress would certainly be useful as well
    Time is a great teacher, but unfortunately it kills all its pupils

  2. #782
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    I don't think we can expect any SP action until we get some definite statement on Galoc phase 2 or a Philippines farm in. Cashflow does underpin the SP but all the excitement is in the Philippines and if BHP signs up for Drill and Thrill in SC51 there is a 50% rise to 15 cents on the cards.

    The prospect of finding an elephant would be too good for most punters to resist

  3. #783
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    15 cents i would say significantly more than that they have to back pay a portion of costs i believe in the order of + A$30 million for work undertaken in SC 55 . Though would be great to hear an update on how things are progressing both galoc and other service contracts. A turkey update would certaily be useful as well
    Time is a great teacher, but unfortunately it kills all its pupils

  4. #784
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    Quote Originally Posted by boysy View Post
    15 cents i would say significantly more than that they have to back pay a portion of costs i believe in the order of + A$30 million for work undertaken in SC 55 . Though would be great to hear an update on how things are progressing both galoc and other service contracts. A turkey update would certaily be useful as well
    We must be due an update on Turkey anytime soon, still getting a decent price for the gas too
    Disc holding - GOR, IGO, LYC, SES

  5. #785
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    still a good buy at these prices ive topped up again today lets hope for a positive announcement on any front in the short term
    Time is a great teacher, but unfortunately it kills all its pupils

  6. #786
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    In the an we should get a reserve update on both galoc and turkey and lets hope a update on sc 51 or 55.
    Time is a great teacher, but unfortunately it kills all its pupils

  7. #787
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    Galoc phase 2 FID due by the end of the month

    http://www.philstar.com/Article.aspx...bCategoryId=66

    In a disclosure to the Philippine Stock Exchange (PSE), Philodrill Corp., a member of the GPC consortium, said “a final investment decision is expected to be made in September 2010.”

    will be interesting to see what they are tageting in phase #2 and the likely cost of such work.
    Time is a great teacher, but unfortunately it kills all its pupils

  8. #788
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    Things start to be heating up from bhp latest [presentation

    http://www.bhpbilliton.com/bbContent...Conference.pdf

    page 44 of note

    It shows sc 55 as BHP operated and

    Delivering basin, significant potential
    (50 billion boe discovered to date)
    �� Material position captured – majority of
    acreage BHP Billiton operated
    �� Multiple countries (Vietnam, Malaysia
    and Philippines) but same rocks
    �� Ramping up drilling activity in CY2011
    with several wells planned for
    Malaysia, Philippines and Vietnam
    �� Significant seismic program scheduled
    for the Philippines in preparation for
    FY2012 drilling
    �� Planning underway for wells in
    Vietnam and Brunei

    looks as though the bhp decision may be closer than we all thought
    Time is a great teacher, but unfortunately it kills all its pupils

  9. #789
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    Quote Originally Posted by boysy View Post
    Things start to be heating up from bhp latest [presentation

    http://www.bhpbilliton.com/bbContent...Conference.pdf

    page 44 of note

    It shows sc 55 as BHP operated and

    Delivering basin, significant potential
    (50 billion boe discovered to date)
    �� Material position captured Ė majority of


    acreage BHP Billiton operated
    �� Multiple countries (Vietnam, Malaysia
    and Philippines) but same rocks
    �� Ramping up drilling activity in CY2011
    with several wells planned for
    Malaysia, Philippines and Vietnam
    �� Significant seismic program scheduled
    for the Philippines in preparation for
    FY2012 drilling
    �� Planning underway for wells in
    Vietnam and Brunei

    looks as though the bhp decision may be closer than we all thought
    Yes OEL sitting on some pretty hot prospects and likely to be free carrried by BhP Billiton
    who will get the lions share of the permit for taking the risk.

  10. #790
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    certainly looks interesting lets hope we dont have to read between the lines for too long
    Time is a great teacher, but unfortunately it kills all its pupils

  11. #791
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    Very interesting read over 100 pages worth in the ann report. Detailed analysis of all the service contracts and turkey. They seem to have promising results from the early siesmic interpretation in sc 55.

    http://www.asx.com.au/asxpdf/2010093...8kwdsv9cjt.pdf
    Time is a great teacher, but unfortunately it kills all its pupils

  12. #792
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    has there been any indication given when BHP will make a decision on whether or not to drill in SC55? i bought in to this stock just before the rise that came with their deal to undertake the seismic (and BHP's right to drill if they so choose). the rise in the sp then gives some indication, in my view, of what to expect if BHP do go ahead with a drill. i'm thinking of sinking a few more dollars into OEL, but i'm not sure how much time i have to make that call. do we have even a ball park idea when a decision is due? thanks so much, guys.

    -j

  13. #793
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    ps. i was very encouraged by the BHP presentation. the fact that they are prepared to 'own' SC55 bodes well, in my view.

    -j

  14. #794
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    end of the year early next year at latest. The ann report indicated the siesmic that otto shot ( over hawkeye before bhp paid for a larger siesmic) in sc 55 was showing promising results from the early siesmic interpretation in sc 55. The sp seems to be going nowhare fast but a farm in the sp would in my opinion more than double from its current level.
    Time is a great teacher, but unfortunately it kills all its pupils

  15. #795
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    cheers, boysy, is that your estimate (based on the fact that you know this stock backwards) or has a timeframe been offered at some point?
    -j
    Last edited by jdg; 05-10-2010 at 09:02 AM.

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