OEL - (Otto) Multi based, Gambling Stock.

[jdg]

Well said AA.

I think that several posters here hold from 2008 levels , perhaps 50c+ , this stock has been a shocker and todays selling suggests plenty of holders screaming 'get me out'. This will touch 7c beofre 10c again I would suggest. The announcement today is really only fluff and far from any certainty to it adding value at all. M

hey misc, i appreciate different view points as they add to the debate, so cheers for that. although I can't agree with you that the deal is only 'fluff'. BHP aren't in this for a lark, and their interests are the same as OELs - to find oil. i just can't see this as being anything other than positive. still, we will have to wait some time to see if anything comes of it. we won't , however, have to wait too long to test another point on which we disagree. what comes next 7c or 10c? and i'm happy to have that friendly wager. winner gets bragging rights.

-j

[Corporate]

Misc - do some more research. OEL are doing extremely well to have BHP back on their side.

[scorp57]

shasta - I have been keeping OEL on the watchlist ever since talking to you bout them a few years ago... Looks like they have turned that corner!

Could you give me a run down of what you think their timeline "Could" be over the next 2 years? i.e ramp ups in production etc?

thanks mate!

[shasta]

shasta - I have been keeping OEL on the watchlist ever since talking to you bout them a few years ago... Looks like they have turned that corner!

Could you give me a run down of what you think their timeline "Could" be over the next 2 years? i.e ramp ups in production etc?

thanks mate!

Scorp

Off the top of my head.

OEL still has Galoc flowing at around net ~2000bopd, & fully online now

OEL has a 35% interest in 8 gas finds at Edirne (Turkey), this is due to come online Q1 2010 (1 Jan - 31 March), or may sneak into early Q2

I worked out a rough estimate of gross gas revenue @ $A35k per day (compared to say 2000 x $A80/bbl giving $A160k oil revenue per day)

Total revenue per day is therefore around ~$A200k when the gas is fully online.

There is a high likelihood there is more gas around these discoveries, & i reckon they will drill some extra wells, any new finds can be tied back into existing production facilities.

Into the 2nd half on 2010 & into 2011 is the Galoc phase 2, to drill two additional wells to boost production (estimated at gross ~4000bopd each)

Should these prove successful, i would imagine the JV partners would try drilling into Galoc North nearby.

Into the future - 2011 & beyond:

1. BHP doing the 3D seismic testing on SC55, a deep water permit
2. A farm out on SC50, a known oil field in the Calauit permit.
3. Look for additional farm outs to perform minimum work required on there other deep water permits.

Possible Drilling Program (2010-2011):

1. Extra gas wells in Edirne, Turkey
2. Galoc Phase 2, 2 additional production wells
3. Possible 2 drills in SC51 "Argao"

Pretty pictures for the deep water permits showing possible GIP/OIP

http://www.stocknessmonster.com/news...E=ASX&N=473336

[Crypto Crude]

good write up shasta

.^sc

[boysy]

would be good to see the company capitalise on the increased interest to try and secure farm outs in the other sc's oel hold. Clearly sc51 has priority but would be good to see sc 50 developed sooner rather than later.

[shasta]

would be good to see the company capitalise on the increased interest to try and secure farm outs in the other sc's oel hold. Clearly sc51 has priority but would be good to see sc 50 developed sooner rather than later.

Absolutely, SC50 isnt a large field, but the flow rates are quite good & would really set OEL up as a cash cow.

Calauit is in 85m waters, so they do need to get it right, & avoid all the pitfalls that Galoc has had.

[boysy]

yes it could be a good chance to show they can deliver the goods on time as promised with no hickups. SC50 could be very benificial for oel especially if the field performs as predicted and certainly scope for further developments to be tied back to that area. Hopefully oel could maintain a significant stake in the sc as well as a farm out would certainly be needed at this stage.

[jdg]

as previously noted, i believe the sp is easily supported by current projects (and then some). but with the Dow and oil down since AXS closed, i won't be surprised to see a retrace come monday morning. i would consider anything else to be particularly bullish.

-j

[Misc]

I agree will come barreling backward tmrw. Alot of 'hot' shares bought Friday and will need to dumped before T3 , also Dow / Oil and stoploss issues will weigh on the SP. Perhaps worth a crack under 8c? Also should be noted SC50 is obviously sub commercial and should not be included in any valuations imo.M