OEL - (Otto) Multi based, Gambling Stock.

[boysy]

yes a few games no doubt being created at the end of day with the 1 share left at 10 cents

[shasta]

yes a few games no doubt being created at the end of day with the 1 share left at 10 cents

OEL currently up 1.1c to 11.0c on just over 5m turnover

Bit of momentum here, that reserve upgrade on the way?

Could someone with decent software post a chart please

[jdg]

yeah, it's looking very strong. that reserves estimate is overdue so it can't be too far away. if it delivers a significant upgrade it should do wonders for the sp.

-j

[boysy]

yep starting to look the goods and looks as though turkey could yield more than initially thought onwards and upwards

[shasta]

yep starting to look the goods and looks as though turkey could yield more than initially thought onwards and upwards

Here's the link:

http://www.stocknessmonster.com/news...E=ASX&N=480514

Seems if this upcoming 2,000m well is a discovery, more infrastructure will be needed!

Glad to see more exploration wells in Turkey, & perhaps this project can now be expanded into a decent revenue earner

[boysy]

yeah it certainly looks as though they are proceeding with phase #2 in turkey lets hope they keep up there hit rate. Looks as though they will have to expand the newly built plant if the find more gas as they predict. It certainly looks like they are going after bigger fish with the yolboyu-1 well. This is low risk stuff dealing with the shallow gas so far hopefully this luck extends to the deeper yolboyu-1 well though no 3d so im not banking on that discovery quite yet. This certainly could bolster oels revenue from turkey if these set of Drills in turkey go well. Hopefully we will hear some more from other projects oel participates in soon enough. NDO is looking cheap at the moment i might have to top up on some more hopefully galoc keeps pumping for the next few months and both share can start flying.

[shasta]

yeah it certainly looks as though they are proceeding with phase #2 in turkey lets hope they keep up there hit rate. Looks as though they will have to expand the newly built plant if the find more gas as they predict. It certainly looks like they are going after bigger fish with the yolboyu-1 well. This is low risk stuff dealing with the shallow gas so far hopefully this luck extends to the deeper yolboyu-1 well though no 3d so im not banking on that discovery quite yet. This certainly could bolster oels revenue from turkey if these set of Drills in turkey go well. Hopefully we will hear some more from other projects oel participates in soon enough. NDO is looking cheap at the moment i might have to top up on some more hopefully galoc keeps pumping for the next few months and both share can start flying.

A potential 7 Bcf for Yolboyu-1 - thats pretty impressive for 1 well

With you having both OEL & NDO, Boysy, you have a direct interest in about 5,000 bopd + a bit of gas on the side & a huge chunk of the Phillipines deep water permits!

I've been looking into NDO of late, alot to like, but OEL is still my favourite O&G play.

OEL finished up 0.6c at 10.5c on 10m turnover, & looking good

[jdg]

nice to see another strike, and a big one having been spudded. COS is much lower, but it's nice to go after a bigger fish.

if they were to strike, any thoughts on whether OEL would participate in increasing plant capacity? i wonder if they would be inclined, as they have to this point, to let the partners do the building and pay to have the gas processed. they are in a better financial position these days, but they may be more inclined to invest their money into the philippines projects.

i'll be happy with that quandary, as it means we've come up trumps - and changed turkey from a nice little earn on the side to something much more important.

-j

[boysy]

yes it looks as though turkey could really be shaping up to be an important geological area if the deep well comes through with gas. Looks as though turkey phase #2 has been given the green light you wonder how much gas they are going after in terms of production per day currently projected to be around 10 million cubic feet a day you wonder what potential increase this drilling could bring to bear. Oel might as well spend money where they are getting quick results though each is minor they all add up and could become something much bigger by the looks of it. Im a keen holder

[jdg]

don't get me wrong, boysy, i couldn't be happier with them spending on drilling. a ten from ten success rate is a dream run, but i was wondering whether they would spend if the decision was made to expand edirne - if that proves necessary - or whether they continue with the arrangements they have now (it may depend - at least in part - on what they negotiate as a cost for processing, and we should find out that in the immediate future). let's hope it's a decision they have to make...
and ditto as to being a happy holder.

-j