OEL - (Otto) Multi based, Gambling Stock.

[AMR]

How are they doing for cashflow at the moment. In hindsight, that placement at 39c was actually a very good move.

[shasta]

How are they doing for cashflow at the moment. In hindsight, that placement at 39c was actually a very good move.

End of June Quarter OEL had $5m* cash

Was due to spend $8.7m in the Sept quarter (excl overheads)

* Excludes $15m raised, as can't see it in the cashflow statement

It is a bit confusing however...

[kura]

Re Galoc, last announcement 24/09, with first oil due in 6 to 8 days
My guess, is that market is worried that this is an awfulll long 6 to 8 days without news of first oil.

[shasta]

Re Galoc, last announcement 24/09, with first oil due in 6 to 8 days
My guess, is that market is worried that this is an awfulll long 6 to 8 days without news of first oil.

OEL Ann out - FIRST OIL

http://www.stocknessmonster.com/news...E=ASX&N=424105

Now to time my re-entry...

[AMR]

Rather surprised at the lack of reaction to first oil. Isn't that supposed to be a major derisking?

[shasta]

Rather surprised at the lack of reaction to first oil. Isn't that supposed to be a major derisking?

Not surprisingly that good anns in this market are being ignored.

Also OEL is bound to the GPC oil sales agreement (not sure where thats at?), NDO have there own arrangement.

As OEL has an indirect interest, so the cheques from GPC may not come in for up to 90 days (depending on the agreement).

I imagine the catalyst for a re-rating will come when the Dec Quarterly shows the cashflows being generated, & the revenue accrued to date.

Am watching for a re-entry, OEL is still my favourite O&G producer

[bear]

Am watching for a re-entry, OEL is still my favourite O&G producer

Shasta

Holding OEL but whats your thoughts on BCC - my current favourite and absolute steal

Bear

[shasta]

Shasta

Holding OEL but whats your thoughts on BCC - my current favourite and absolute steal

Bear

Bear

I have BCC on one of my O&G/CSG watchlists, but as it's in the USA i'm not so keen on it. (Plus it has debt!)

I've been in AMU, PSA, & TEX before & all seems to cop it more than most due to being in the USA, those damn GoM hurricanes don't help!

However BCC do have some nice gas assets & the period Nov 08 - Jan 09, will be the making of the company as several projects come into production.

I personally prefer TEX/O to BCC for a leveraged US based play.

OEL has great acreage in the Phillipines, & lots of gas in Turkey, which attracts much higher prices than the US.

I like it's portfolio of leads, with upcoming drilling (early 09) in Italy, & some farm out activity due in the Phillipines for some deep water drilling.

[shasta]

Bear

I have BCC on one of my O&G/CSG watchlists, but as it's in the USA i'm not so keen on it. (Plus it has debt!)

I've been in AMU, PSA, & TEX before & all seems to cop it more than most due to being in the USA, those damn GoM hurricanes don't help!

However BCC do have some nice gas assets & the period Nov 08 - Jan 09, will be the making of the company as several projects come into production.

I personally prefer TEX/O to BCC for a leveraged US based play.

OEL has great acreage in the Phillipines, & lots of gas in Turkey, which attracts much higher prices than the US.

I like it's portfolio of leads, with upcoming drilling (early 09) in Italy, & some farm out activity due in the Phillipines for some deep water drilling.

OEL - Appendix

15m shares issued as part consideration for the buy back of the 5% royalty on the permits SC50, SC51 & SC55.

These are the deeper water permits, so issuing the shares at these depressed prices may well be a bargin!

http://www.stocknessmonster.com/news...E=ASX&N=424517

[bear]

Bear

I have BCC on one of my O&G/CSG watchlists, but as it's in the USA i'm not so keen on it. (Plus it has debt!)

I've been in AMU, PSA, & TEX before & all seems to cop it more than most due to being in the USA, those damn GoM hurricanes don't help!

However BCC do have some nice gas assets & the period Nov 08 - Jan 09, will be the making of the company as several projects come into production.

I personally prefer TEX/O to BCC for a leveraged US based play.

OEL has great acreage in the Phillipines, & lots of gas in Turkey, which attracts much higher prices than the US.

I like it's portfolio of leads, with upcoming drilling (early 09) in Italy, & some farm out activity due in the Phillipines for some deep water drilling.

cheers Shasta

interesting comments re BCC - still very comfortable with them though

Nice little rise for OEL yesterday - may it continue on

Bear