OEL - (Otto) Multi based, Gambling Stock.

[boysy]

cash balance at the end of the quarter was A$23 million

I believe uptime at galoc has been very good with 3 offloads (180,000 barrels net to otto @ US$70 @ 0.87 ) = A$14.5 million gross

turkey 80 days @ 9 mmcf ( 3.15 mmcf net to otto ) @ US$7 mmcf @0.87 = A$2 million gross

Dont forget option expiry 60 million @ $0.05 = A$ 3 million

hope this helps in any way there shasta alos a few more discoveries have been made in Turkey you have to wonder if they have been added to production to increase or lenghen the platau rate .

[Corporate]

OEL is probably my favourite oiler at the moment. There is nothing factored in for the potential BHP farmin!

[boysy]

nothing at all and the cash balance is increasing 2 income sources and big upside on both turkey and pines service contracts its been well down recently on low volume

[shasta]

cash balance at the end of the quarter was A$23 million

I believe uptime at galoc has been very good with 3 offloads (180,000 barrels net to otto @ US$70 @ 0.87 ) = A$14.5 million gross

turkey 80 days @ 9 mmcf ( 3.15 mmcf net to otto ) @ US$7 mmcf @0.87 = A$2 million gross

Dont forget option expiry 60 million @ $0.05 = A$ 3 million

hope this helps in any way there shasta alos a few more discoveries have been made in Turkey you have to wonder if they have been added to production to increase or lenghen the platau rate .

Off that $23m figure was around $5-6m of GPC related costs to be deducted

On reviewing the last quarterly, you're right there will be an extra cargo go thru this quarter, so the revenue/cash should reflect this.

Totally forgot about the option money so theres another $3m straight away

Galoc phase 2 - should spark some life back into Otto, especially if they get the extra 4,000bopd (~750bopd net extra to OEL)

Also waiting on an update on BHP's seismic testing, not sure the market realises they are paying all the costs for this, not OEL!

[boysy]

Is any premium being put on the sp for a deal worth more than US$100 millio to Otto if BHP decides to go ahead. Shareprice should double on this news alone when you take into account back costs being paid though at these prices the market doesnt see a farm in as much of a possibility. Bring on the quarterly

[boysy]

Have we reached a bottom in the sp for otto the quarterly should yield the best quarter to date and hopefully a few supprises i guess we will know within 2 weeks.

[Rabbi]

Hope so Boysy. The SP has drifted down on no news and needs something to spark some interest. Most Oilers are in the same boat and have taken a hammering lately, even the ones with no debt and plenty of cash to play with.

[boysy]

Well it should be an interesting quarterly more gas finds in turkey should lead to higher production levels or longer platau gas production. Moving another driling rig to the area cant be a bad sign either they certainly seem happy to keep drilling i would be as well with 100% hit rate with 3d siesmic. EV wise this is the cheapest it has ever been this dispite the fact the company is in the best shape it has been in quite a while. Would be great to get a farm out from left field we all know if bhp farm in the value is around 7-8 cents you have to wonder if any premieum is buit in currently very good buying but as you point out otto isnt alone in being cheap for its level of production and cashflow.

[boysy]

otto sure looking the safer play between nido and kik you have to wonder if a bit of money will move from nido and kik if tindalo doesnt meet expectations. Will be very interesting as to how it all pans out the quarterly should show a difference between otto and its peers financial situation

[boysy]

latest presentation out from Transatlantic page 10 of particular interest

-14 from 14 hit rate (100% hit rate using 3d)

http://www.transatlanticpetroleum.co..._June_2010.pdf