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06-01-2011, 05:43 PM
#911
Originally Posted by boysy
Seems its one of OEL's smaller targets, just 1 - 62mmbo estimated recoverable, but at least this drill satisfies the minimum work committment
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06-01-2011, 08:34 PM
#912
Should get farm out news in the next week or 2 on sc 51 will be interesting to see the terms and if they drill an offshore well within sc 51.
Time is a great teacher, but unfortunately it kills all its pupils
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10-01-2011, 02:23 PM
#913
hey boysy and shasta, hope you guys had a good break.
this is the year for OEL.
with a healthy dose of luck, we could have a serious multi bagger. current production limits downside, in my view.
onshore 51 is a wildcard. any find there is a bonus. BHP giving 55 the thumbs up seems like a fair bet. any find there would be massive (and guarantee a second drill). potential news on stage II Galoc will help things along and other farm ins are on offer.
OEL is my favourite pick for 2011.
-j
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10-01-2011, 02:38 PM
#914
thanks for the detailed graph, too, Phaderus, they are always greatly appreciated.
-j
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10-01-2011, 05:02 PM
#915
Certainly does seem to be the year that all the stars are aligned. Some big news should be expected over the coming few weeks as months as you mention the onshore drill, BHP decision and galoc phase #2. The big one clearly being if BHP decide to farm in though as you mention cash balance should continue to increase should be close to $40 million by now which gives them more flexibility ect
Time is a great teacher, but unfortunately it kills all its pupils
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11-01-2011, 04:18 PM
#916
the market doesn't agree with us, boysy. might breech support at 9.8c today. clearly there isn't great confidence that BHP will come to the party. still, plenty of the year left... (and i'm yet to buy as many as i want and hoping for low 9s).
-j
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12-01-2011, 07:48 AM
#917
Im not sure at this stage any of the upside has been factored in JDG we should hear in the next few days if OEL got a farmout for SC 51 onshore drill and the terms. BHP farm in option release one year ago the price went up to 12 cents look at the company then compared to now the company now would have close to ~40 million cash still getting ~1500 bopd from galoc sc 55 looking the goods and sc 69 seems to be worth getting excited over. 2011 is the year in which otto can use cash it has to unlock the value of its service contracts still flying well under the radar. Not sure you will get the low 9s ill be buying more if it heads this way the only way it gets down to lows again is if bhp pulls the plug on sc 55 and even then still good buying based on galoc cash and prospects alone they have mentioned they are willing to have a drill in sc 55 by themselves and another party if the bhp farm in falls through.
Time is a great teacher, but unfortunately it kills all its pupils
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17-01-2011, 05:24 PM
#918
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17-01-2011, 07:40 PM
#919
Rabbi i think we should hear news about sc 51 very soon with details on the farm in in the coming few days/weeks. Plenty of tree shaking going on one has to remember the top 20 has 70% of the shares on issue so if it wants to run on good news it will run hard. With current poo it makes even marginal oil fields money makers i guess we are lucky to have galoc online and still providing significant income. Glad i picked up a few more this morning at 9.6 as this share could be many multiples of this if we get some farm in news followed by further good news watch this space management are very astute and really are getting stuck in behind the scenes.
Time is a great teacher, but unfortunately it kills all its pupils
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17-01-2011, 07:41 PM
#920
Also bear in mind the volume pick up prior to BHP farm in option over a year ago it ran to 12 on that alone the company prospects look even better now you can only guess what it would run if bhp actually do commit i wouldnt think 20-30 cents would be out of the question if other farm ins fall there way as well
Time is a great teacher, but unfortunately it kills all its pupils
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