OEL - (Otto) Multi based, Gambling Stock.

[jdg]

it's the fact that the new mgmt team do tend to underplay things that gives me confidence in their positivity around SC55 data.

the fact that they are wanting to farm in on an onshore in 51 suggests they are intent on keeping money in reserves - mindful perhaps of Galoc II? be interesting to know who they're talking to.

-j

ps, i've been out of the loop for a while. is shasta still about? he always had a good handle on all things OEL.

[jdg]

depth looking better today.
i just had a look for info on Duhat-1, but came up blank. do we know anything about it?

-j

[boysy]

no cant say i have seen it mentioned anywhere before still waiting on the details hopefully if the farm in actually goes ahead they can inform us of the target and all the other information we may want.

[jdg]

yeah, agreed, including who the mystery farm-in partner is. finger's crossed Q1 next year is close enough for the Dept of Energy to be satisfied.

-j

[boysy]

Well still no word on the farm in partner but i think the DOE is hungry to get their hands on any oil so i see no need for the shirt extension to be given. Hopefully bigger fish will fry in the meantime we should get an idea about siesmic in the coming few weeks and you never know pen to paper on sc 55 would certainly be an early Christmas pressie

[shasta]

it's the fact that the new mgmt team do tend to underplay things that gives me confidence in their positivity around SC55 data.

the fact that they are wanting to farm in on an onshore in 51 suggests they are intent on keeping money in reserves - mindful perhaps of Galoc II? be interesting to know who they're talking to.

-j

ps, i've been out of the loop for a while. is shasta still about? he always had a good handle on all things OEL.

Im still here, my old computer died & have only recently sorted a replacement.

OEL is still my favourite O&G play, albeit a quiet one at the moment

Brent oil price in the highs 80's will be keeping the cash rolling in, just need some farm in news re BHP to reignite the share price

[Corporate]

Im still here, my old computer died & have only recently sorted a replacement.

OEL is still my favourite O&G play, albeit a quiet one at the moment

Brent oil price in the highs 80's will be keeping the cash rolling in, just need some farm in news re BHP to reignite the share price

That's once Galoc is back online Shasta :-)

[boysy]

good call looks as though the damage may take some time to get fixed. Would be great to hear about some farm in news happening behind the scenes but i guess thats not the CEOs style which is a refreshing change. Cash balance still growing prospects still looking good what more can you ask but for galoc phase #2 to be approved galoc to be back online and sc 55 farmed out to BHP.

[jdg]

good to hear you're still about, shasta.

OEL is particularly unloved at the moment, but i've been buying. ultimately, i'm backing that BHP, having come back to the table and paid for the seismic, will drill a hole or two at SC55. the upside of that news (which can't be more than six months away - and may be much sooner than that) will send the sp into the mid teens. and success at one of those will mean all of our christmases come at once. moreover, i think that Galoc II is enough to sustain the company, and is more than enough to support the current sp. given this, i see the potential for massive upside but little risk to the downside.

further to all of this, we have the potential for some wildcard farm ins at other acreage that could happen at any time.

yip, i like OEL.

in the near term the driver is likely to be the go-ahead for the onshore at SC51. i'm not sure which way that one will go, but i hope the DOE play ball. a drill will draw attention to OEL and the company's other prospects. and, what's more, it will spice up a stock that is currently a little bloody boring to follow. the calm, perhaps, before the storm.

-j

[shasta]

good to hear you're still about, shasta.

OEL is particularly unloved at the moment, but i've been buying. ultimately, i'm backing that BHP, having come back to the table and paid for the seismic, will drill a hole or two at SC55. the upside of that news (which can't be more than six months away - and may be much sooner than that) will send the sp into the mid teens. and success at one of those will mean all of our christmases come at once. moreover, i think that Galoc II is enough to sustain the company, and is more than enough to support the current sp. given this, i see the potential for massive upside but little risk to the downside.

further to all of this, we have the potential for some wildcard farm ins at other acreage that could happen at any time.

yip, i like OEL.

in the near term the driver is likely to be the go-ahead for the onshore at SC51. i'm not sure which way that one will go, but i hope the DOE play ball. a drill will draw attention to OEL and the company's other prospects. and, what's more, it will spice up a stock that is currently a little bloody boring to follow. the calm, perhaps, before the storm.

-j

Oops, i missed the Galoc offline issue, whilst computer was dead!

What i like the most about the BHP deal, is that the first deal under Alex Parks didnt proceed, but under Paul Moore, BHP came back to the table & agreed to fund the seismic testing.

Not too many majors walk away from minnows & come back to renegotiate & agree on a deal!