OEL - (Otto) Multi based, Gambling Stock.

[boysy]

you do raise a good question i guess it purely comes down to the funding in place oel were stretched when the investment decision was made to go ahead with the gas processing plant. OEL are in a much better financial position now so they also might want to state they are serious about developing the region so might now participate in any future facility developments. The current cost of the facility is around US$10 million oels share had it wished to participate at 35% would of been US$3.5 million which at the time this was announced would of been a large portion of there remaining cash this is not so the case anymore so i wouldnt be surprised if they opt back into the plant or future production facilities.

[shasta]

you do raise a good question i guess it purely comes down to the funding in place oel were stretched when the investment decision was made to go ahead with the gas processing plant. OEL are in a much better financial position now so they also might want to state they are serious about developing the region so might now participate in any future facility developments. The current cost of the facility is around US$10 million oels share had it wished to participate at 35% would of been US$3.5 million which at the time this was announced would of been a large portion of there remaining cash this is not so the case anymore so i wouldnt be surprised if they opt back into the plant or future production facilities.

They already have a gas sale arrangement in place, so i'm sure the gas company involved will want to secure any further gas production, & may assist with funding for any additional infrastructure required.

I don't believe the costs would be that onerous to set up new production facility, especially if the deep well hits gas.

I think with OEL's 35% interest, the risk v reward is worthwhile expanding the production facilities, of course OEL don't operate Edirne, so it depends entirely on the JV partners!

[STRAT]

Hasnt OEL survived well over the last month of misery. Well done you guys.

A few clear resistance lines there to get through. Tomorrow might be a good day to watch it close

[boysy]

all it will need is a few more positive announcements lol. Plenty of info should be due in the next few weeks one can only hope the general market itself doesn't take a turn for the worse.

[shasta]

Hasnt OEL survived well over the last month of misery. Well done you guys.

A few clear resistance lines there to get through. Tomorrow might be a good day to watch it close

To my untrained eye, if OEL breaches the 10.5c resistance & closes above it tomorrow, with this sort of volume can we expect 10.5c as a new level of support?

[STRAT]

To my untrained eye, if OEL breaches the 10.5c resistance & closes above it tomorrow, with this sort of volume can we expect 10.5c as a new level of support?

Its possible but some time spent above those lines would be preferable and its not support till it comes back down and bounces off and up I would have thought. If I had bought at the blue vertical line and looking for sell signals Id be watching for a cross over of the MA. A breach of the steep short term trend line, a drop in OBV ( thanks P ) Candle formations and volume.



Its a bit of a critical time in terms of the chart, the world markets and the POO. Id be optimistic but ready to jump.

PS,
my eye is also untrained and even worse if I cant find my glasses ( a resent acquisition and one Im fighting every step of the way. Glasses that is )

[boysy]

seemed to hold its own today i guess plenty of people waiting for some more information even so 3 mill odd shares traded.

[shasta]

seemed to hold its own today i guess plenty of people waiting for some more information even so 3 mill odd shares traded.

10.5c looks like a pesky resistance level

Quite a bit of trade "after close"

http://www.stocknessmonster.com/stoc...es?S=OEL&E=ASX

Might need some great news to breach that 10.5c...

Reserve upgrade this week would help

[boysy]

good start to the day up to 11 on 1.4 mill turnover will be interesting to see how the day will pan out and whether that 10.5 will set a new level of support. Am expecting plenty of info out in the next few weeks.

[Rabbi]

The price of oil up strongly last night would have helped support the SP, as it is the revenue from Galoc which underpins it. These Gas field in Turkey look like Rats and mice stuff to me, although I understand the Gas price over there makes these fields economic

A high Spec drill in the Phillipines would create real SP action

Oh the thrill of an elephant hunt.