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15-12-2010, 12:04 PM
#871
Originally Posted by boysy
Am a bit disappointed with the sale price, especially no royalty clause
Yes, the gas production has plateaued (& would fall off quite a bit during 2011 which is natural), but at least OEL is going ahead with its focus on oil & gas in the Phillipines & divesting its other non core assets
I dont expect the market to react to this at all, im waiting on more details on Galoc phase 2 now, economics must be looking good with Brent oil @ ~$US91/bbl
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15-12-2010, 12:12 PM
#872
Dont forget drilling of onshore SC 51 there shasta and further SC 55 interpretation. It certainly does look good for galoc phase #2 to get the go ahead should be an interesting 2011 that's for sure. They have enough cash to really make a difference in 2011 it looks as though 2010 was making the company more stable as a platform for growth they have enough cash and expertise to attack their service contracts this year.
Time is a great teacher, but unfortunately it kills all its pupils
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15-12-2010, 12:40 PM
#873
Originally Posted by boysy
Dont forget drilling of onshore SC 51 there shasta and further SC 55 interpretation. It certainly does look good for galoc phase #2 to get the go ahead should be an interesting 2011 that's for sure. They have enough cash to really make a difference in 2011 it looks as though 2010 was making the company more stable as a platform for growth they have enough cash and expertise to attack their service contracts this year.
2011 is looking good for OEL
From memory OEL started 2010 around 6.9c, so OEL has had a slow & steady ~30% rise during a year where they consolidated there activities & werent very active, but slowly increased the cash reserves, & has no debt!
With 1.1b+ shares, i wouldnt mind a 4:1 consolidation during 2011, might email them about that, to tighten the register
Market Cap @ ~$A100m & with $US30m+ cash (+ $US3.1m for Turkey sale in this quarter, this will help offset the time Galoc was offline),
Still looks undervalued to me
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15-12-2010, 12:45 PM
#874
Certainly doesnt mind that the top 20 hold ~70% of the shares those in the know are still buying at these levels. Multiple catalysts next year it will be interesting but with paul moore at the helm. 2010 seemed to be the year of consolidation let 2011 be the year of growth.
Time is a great teacher, but unfortunately it kills all its pupils
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15-12-2010, 08:40 PM
#875
supprised the market liked the news with buyers firming. I guess they have now stated they will have the sole focus in the pines which has got to be a good thing. SP up to 9.2 cents a bot more pressue lets hope some further news helps the sp along in the coming few days.
Time is a great teacher, but unfortunately it kills all its pupils
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15-12-2010, 08:57 PM
#876
Originally Posted by boysy
supprised the market liked the news with buyers firming. I guess they have now stated they will have the sole focus in the pines which has got to be a good thing. SP up to 9.2 cents a bot more pressue lets hope some further news helps the sp along in the coming few days.
When you think a big deal was made of Edirine when it first came online, being there 2nd asset in production
But the market clearly likes the sale, as it should reduce some admin costs, & shows the Phiilipines is there focus, & hopefully BHP wants to be a part of it
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16-12-2010, 12:25 AM
#877
lower admin costs a even more focused geographic view more cash in the kitty it certainly opens up more options for the company with less areas of interest to spread its limited funds over. The company has turned things round from a very dire financial situation to having well over 30 million in cash 2011 should be the year the pieces of the puzzle are finally bought together
Things to look forward to in 2011
- SC 51 drilling
- Possibly sc 51 farm in
- SC 69 seismic 3D over some hefty looking targets
- SC 55 seismic interpretation/ possible farm in - if this is the case 1 if not 2 drills in SC 55
- Galoc phase #2 likely go ahead
- Galoc additional targets ( Galoc north ect)
- Drilling in SC 55 without BHP farm in the company has indicated they are willing to go it alone if the seismic / risk return is good enough
- Further opportunity in the asia pacific region
- Further cash balance increases
Many catalysts for the SP to be many multiples of its current levels if things pan out the way management is wanting them to fall
Time is a great teacher, but unfortunately it kills all its pupils
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17-12-2010, 12:19 AM
#878
Plenty of volume going through and SP rising ever so slightly something seems to be in the wind perhaps a early xmas pressie wouldn't that be nice BHP just sign on the dotted line
Time is a great teacher, but unfortunately it kills all its pupils
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17-12-2010, 09:10 AM
#879
yeah, my hopes of picking up some more in the 8-9c range may be gone. i think next news will be regarding Duhat-1.
-j
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17-12-2010, 10:40 AM
#880
You have to wonder why the company is so hell bent on getting its cash level up. My bet they are looking at drilling a few prospects this year and clearly with more cash they can be in a better position when farming down service contracts. Recent language from the company suggests they will step up and drill if they cannot obtain farm outs you have to wonder if this is a sneaky way of trying to put a bit of pressure for BHP to sign on the dotted line. Would be great to see a farm in onshore SC 51 step up and take a stake to drill a well in offshore SC51.
Time is a great teacher, but unfortunately it kills all its pupils
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