OEL - (Otto) Multi based, Gambling Stock.

[shasta]

not a bad start to the day was expecting a bit of selling pressure but it doesnt look like this is in fact eventuating. I guess quite rightly as the poo is falling the relative price of a barrel of oil is remaining relatively stable. Will be interesting to see if the drilling of tindalo will bring some spot light on some of oels sc's well anyway what is good for one company in the region certainly has to have flow on effects for other stakeholders of sc's in the pines

NDO's partner in SC54 is KIK, & whilst OEL are next door with SC55, you'd hope they would attract some attention.

Between OEL & NDO (+KIK) they have quite a large acreage tied up in the Phillipines.

We already know BHP is sniffing around the area, perhaps all three companies are targets down the line

[boysy]

must be due sometime soon for the next well result in turkey. Planty to keep the sp ticking over. Wouldnt mind if they released a new presentation soon with some updated analysis on the 3d shot over sc 55 though im sure this could still be weeks away. Galoc still running as expected no news is good news in that department. I wouldnt be supprised if we hear about thefacilities upgrade along with ndo's reserve assessment

[jdg]

i wonder what has happened to Nido's reserves estimate. it was due in january. if that comes back with a good sized increase, it should be a terrific near term drive for the sp.

i agree, boysy, it's great to not hear anything about galoc, as it must be ticking away nicely. it was due a bit of luck. a couple more strikes in turkey would also be pleasing.

-j

[boysy]

Yes jdg oel certainly should get a boost from a likely reserve upgrade. Will be interesting on how oel will react to the reserve reassessment figure as the last one ndo did in 2008

mid-2008 Nido commissioned Gaffney, Cline and Associates (GCA)
Phase #1 phase #2
1P 15.9 MMstb 3P 56.8 MMstb
2P 24.6 MMst

meanwhile oel have done there own reserve estimate and came up with a much smaller figure. Quite interesting to see the different reactions from NDO after OEL came out with there figure they did not want to endorse OELs finding but wanted independent certification.I believe on this was discussed on this thread previously as there are advantages for oel to understate or be overly conservative on the reserve front. This should surely add a bit more coverage if the reserve estimates increase and would certainly put a rocket up the galoc phase 2 participants at it. Yep turkey is a nice little play might as well keep drilling if they belive that hit rate stays high its all incremental income .

[shasta]

Yes jdg oel certainly should get a boost from a likely reserve upgrade. Will be interesting on how oel will react to the reserve reassessment figure as the last one ndo did in 2008

mid-2008 Nido commissioned Gaffney, Cline and Associates (GCA)
Phase #1 phase #2
1P 15.9 MMstb 3P 56.8 MMstb
2P 24.6 MMst

meanwhile oel have done there own reserve estimate and came up with a much smaller figure. Quite interesting to see the different reactions from NDO after OEL came out with there figure they did not want to endorse OELs finding but wanted independent certification.I believe on this was discussed on this thread previously as there are advantages for oel to understate or be overly conservative on the reserve front. This should surely add a bit more coverage if the reserve estimates increase and would certainly put a rocket up the galoc phase 2 participants at it. Yep turkey is a nice little play might as well keep drilling if they belive that hit rate stays high its all incremental income .

OEL - Seismic Acquistion Commencing - SC55

http://www.stocknessmonster.com/news...E=ASX&N=480014

Starting today a 2 month 1800km2 3D seismic program

BHP is funding this, so lets hope the comprehensive seismic program locates multiple prospects, so BHP wants to develope them

[boysy]

yep it must be a sign of confidence to get in the upper end of the expected range of 3d seismic. Should hear an update from turkey sometime soon and hopefully some updates via galoc phase #2

[boysy]

not a bad end of day up to 9.8. Starting to look the goods though hopefully some news reguarding the other sc's will come out soon. That galoc reserve update and possible phase #2 development should be getting rolled out soon one would think.

[shasta]

not a bad end of day up to 9.8. Starting to look the goods though hopefully some news reguarding the other sc's will come out soon. That galoc reserve update and possible phase #2 development should be getting rolled out soon one would think.

OEL hitting an intradray high of 10.5c & turnover approaching 10m shares

A close above 10c would really give OEL a boost next week, maybe that Galoc reserve upgrade is in the wind?

[boysy]

yep looks as though that 10 cent is the barrier though i am liking that volume currently around 14 million shares. There should be plenty of news in the pipeline so hopefully we will hear something soon. though regarding the galoc upgrade i would of expected a bit of a pop from ndo if that was the case. Both still looking cheap based on fundamentals

[shasta]

yep looks as though that 10 cent is the barrier though i am liking that volume currently around 14 million shares. There should be plenty of news in the pipeline so hopefully we will hear something soon. though regarding the galoc upgrade i would of expected a bit of a pop from ndo if that was the case. Both still looking cheap based on fundamentals

OEL ended up with the VWAP of 10.0c, however a chart painter after market took OEL back down to 9.9c, just up .01c from the intraday low.

Still on balance this is a good sign, given the volume