OEL - (Otto) Multi based, Gambling Stock.

[jdg]

i have been well out of the loop of late, but i can't believe i haven't read this before.
http://www.ottoenergy.com/IRM/Compan...eName=Hartleys Initiates Coverage
if that doesn't get one excited, i'm not sure what would.

-j

[boysy]

Lets hope some of the funds are moving from other plays. Nido and KIKs ann out is not good at all tindalo looks set to be a failure a very expensive one at that. They do have a rig contract for 10 months perhaps otto could get a cheap deal to utilise the rig very interesting stuff happening in the region though. Yes that valuation simply states it as it is in quite a bit of detail as if i remember correctly well worth a read.

[boysy]

Interesting to see in nidos latest release stating a forward looking statement no mention of galoc phase #2 perhaps the cash flow issues really are having an effect on nido.

[jdg]

yeah, boysy, that's a real concern. you can't suck blood from a stone.
also, i think the chances for a drill in SC51 by dec look very poor. the annual report didn't offer much hope in that direction. we may end up losing that and a massive potential target.
buy sell ratio looks pretty crook at the moment, and that's perhaps a reflection that good near-term news appears unlikely. let's hope BHP come good in the next six months or so - but, gee, that's a long time to wait.
on the upside, money still coming in from Galoc and cash reserves only growing. i still very much like the big picture, but i'm not holding my breath for substancial gains anytime soon. i'll certainly be in the market for more if she drops.
-j

[boysy]

Im with you on that one jdg i understand sc 51 may get pushed back a littl ebit it the DOE will allow a few more months for a drill . Perhaps otto can put some of that money to good use taking up a bigger share of galoc phase #2 if/ when it does indeed go ahead. Slowly building if the poo keeps up downside is very limited in my opinion though if we have nothing to look foward to relating to drills it will drift sideways.

[gazprom1]

Jdg/ Boysy,

I am in this with you guys and will continue to accumulate unless something fundamental changes. Agree that POO should underpin the SP until we have positive developments.

Gazprom

[boysy]

It is being overlooked currently but any hint of bhp putting pen to paper and everything changes. A farm in by bhp has been estimated to be worth in the region of US$150 more than ottos current MC to put in perspective.

[Rabbi]

Yes , my feeling after reading the annual report was that any action in the Phillipines wasn't exactly imminent. They can sit on the income from Galoc and Turkey which will underpin SP but to get any upside BHP Billiton has to come to the party in the Philippines.

This kind of thing stopped CSG junior Blue Energy in it's tracks and it's SP went South.
Major shareholder KOGAS wanted a farmin agreement extended until next year which created enough uncertainty for some investors to get out.

You can have the magnificent permits but many investors can't wait for years for some prospective partner with big pockets to make a commitment.

[jdg]

anybody got a take on sc51? it seems like we have been unable to get a taker for the Argai prospect, so will we drill a cheap onshore option to retain the permit? from memory something has to be done by december. the co have been pretty silient around this issue. certainly the annual report gave no indictaion of what's happening - and, if anything, it seemed to signal they have given up on it. any thoughts?

-j

[boysy]

The quarterly out this week should state what the play is. Nido and KIK getting a farmout for SC 54b today though it seems as though Shell got the best deal considering the money spent to date. Lets hope we get an update from SC 55 seismic in the next quarterly perhaps farmouts in the region are starting to heat up would be interesting to think if the Sc 54B farmout will help speed up the process. It looks as though the company would drill a cheaper onshore well if the deadline cannot be pushed back further. Galoc offline due to recent typhoon lets hope they get it back online quickly