OEL - (Otto) Multi based, Gambling Stock.

[boysy]

Yes it is evident that all those holding SC's in the region look poised to benifit from the majors more than sniffing round now. Tindalo must be reaffirming what the little players thought in the region and otto have a significant position in the area especially for there size. Ev now must be looking very small a farm in from bhp worth 8 cents a share if it goes ahead then they have other SC's to keep them busy. you have to wonder if BHP will be interested in anyother of Ottos SC's i would like a concrete commitment in the next quarterly as to what is going to happen this year all things going to plan. Clearly sc 50 is on the back burner we will need other players to front up with the cash or a higher oil price. Sc 51 however has a deadline of dec 2010 one would think they would need to get a contract in place in the next few months to ensure it is drilled on time unless itis delayed ?

[shasta]

Yes it is evident that all those holding SC's in the region look poised to benifit from the majors more than sniffing round now. Tindalo must be reaffirming what the little players thought in the region and otto have a significant position in the area especially for there size. Ev now must be looking very small a farm in from bhp worth 8 cents a share if it goes ahead then they have other SC's to keep them busy. you have to wonder if BHP will be interested in anyother of Ottos SC's i would like a concrete commitment in the next quarterly as to what is going to happen this year all things going to plan. Clearly sc 50 is on the back burner we will need other players to front up with the cash or a higher oil price. Sc 51 however has a deadline of dec 2010 one would think they would need to get a contract in place in the next few months to ensure it is drilled on time unless itis delayed ?

Most likely is that they will re-negotiate to extend the timeframe, but OEL have to becareful that they dont let the permits lapse, i'd like to see them drill them, or at least do further 3D seismic testing over the known targets, to make getting a farm in partner much more attractive

[boysy]

Yes it will be interesting i would rather oel put some more effort into defining targets and drilling them. As you mention they need a farm in partner to drill and hopefully get a result the timeframe is running out hopefully with all the added action in the pines and success at T1 and if media reports are anything to go by things are certainly happening behind the scenes in the pines. Bring on a SC 55 farmout

[shasta]

Yes it will be interesting i would rather oel put some more effort into defining targets and drilling them. As you mention they need a farm in partner to drill and hopefully get a result the timeframe is running out hopefully with all the added action in the pines and success at T1 and if media reports are anything to go by things are certainly happening behind the scenes in the pines. Bring on a SC 55 farmout

OEL - Molton Holdings increases stake from 19.95% to 23.32%

http://www.stocknessmonster.com/news...E=ASX&N=496620

The 30m options were exercised @ $0.05

Doesn't this triggered a takeover bid?

[ronthepom]

OEL - Molton Holdings increases stake from 19.95% to 23.32%

http://www.stocknessmonster.com/news...E=ASX&N=496620

The 30m options were exercised @ $0.05

Doesn't this triggered a takeover bid?

Alec's other one---MOS was taken over !!!

[boysy]

creeping clause it wont trigger a T/o santo must of also excised there options for the full 60 odd million to be taken up. so both now up over the 20% threshold. Looking cheaper and cheaper by the day cash backing would be over $0.03 a share now me thinks. Though looks as though NDO will have a few cashflow issues wouldnt be supprised if they are dragging there feet firmly in the ground until and if tindalo gets sorted out.

[boysy]

The Philippine government made P490 million from the Galoc oil field in northwest Palawan in the 12 months to June 2010, an Energy official said Tuesday.

It is now up to the national and local governments on how the money from the Galoc fields production since it was declared commercially viable in June 2009 shall be divided, Energy Undersecretary Ramon Oca told reporters in an interview.

The Galoc field has produced over four million barrels of oil since October 2008 when the consortium, led by Galoc Production Co., started pumping oil from the well. The field now produces 8,600 barrels per day.

The consortium is studying the possibility of drilling two more wells to discover additional reserves, and increase Galocs output by 4,000 bpd to 12,600, and production reserves by five million barrels to 15 million.

While Galoc Production holds a 50 percent stake in service contract 14C, which covers the Galoc field, Australias Otto Energy Ltd. and the Vitol Group hold the rights to the field's production.

"The field continues to produce in line with expectations and Otto is working with the operator to continue to improve the facility performance and plan for appraisal and development of the remainder of the field," Otto Energy said.

The other stakeholders in SC 14C are Nido Petroleum Ltd. (22.28 percent), Oriental Petroleum & Minerals Corp., and Linapacan Oil Gas & Power Corp. (7.57 percent each), Philodrill Corp. (7.03 percent), Forum Energy Corp. (2.27 percent), Alcorn Gold (1.53 percent), and PetroEnergy (1.03 percent). VS, GMANews.TV

http://www.gmanews.tv/story/195339/g...oil-production

[shasta]

OEL - Molton Holdings increases stake from 19.95% to 23.32%

http://www.stocknessmonster.com/news...E=ASX&N=496620

The 30m options were exercised @ $0.05

Doesn't this triggered a takeover bid?

Slight correction, Molton now hold 21.32% not 23.32%

Santo have gone to 21.32% as well

http://www.stocknessmonster.com/news...E=ASX&N=496795

[boysy]

Top 20 holders as of 2nd July owned 65.2%


http://www.ottoenergy.com/IRM/Compan...9&EID=48566255

[shasta]

Top 20 holders as of 2nd July owned 65.2%


http://www.ottoenergy.com/IRM/Compan...9&EID=48566255

With the June quarterly fast approaching, i thought i'd estimate the cashflows/gross revenue

The OEL shareprice has softened over the quarter, but the fundamentals still stack up.

OEL's market cap @ $0.074 = ~$80m (cash @ 31/3/10 was approx $18m, excluding the $21m rec'd ex BHP)

Opening Cash = ~$A18m

Less: ~$10m (est exploration**, development, & admin costs, as per 31/3/10 qtrly)

Plus: Est Gross Revenue (Gas + Oil) ~$A12m*

Less: Est direct costs ~$A5.5m (Edrine & Galoc, using 50% costs for Edrine & $US30/bbl Opex + Capex for Galoc)

Est closing cash @ 30/6/10 = ~$A14.5m

Gas Revenue for June Qtr

10mmscf x $US7.50/mmscf x 35/100 = $US26,250 per day x 80 days production, less 10% processing fee & using 0.87 AUD/USD

Gross Quarterly Gas Revenue = ~$A2.17m

Oil Revenue for June Qtr

8,600bopd x $US70/bbl x 0.1878 = $US113,056 per day x 80 days production, less 5% disc to Brent price & using 0.87 AUD/USD

Gross Quarterly Oil Revenue = ~$A9.87m

Total Estimated Gross Revenue June Qtr = $2.17m + $9.87m = ~$A12m*

The figures i've used are delibrately conservative at the lower end of the expected range

** Unsure if the exploration costs includes the seismic data related costs that BHP are funding