Quote Originally Posted by jdg View Post
hey shasta,
intra day high, sure, but hardly a big move. i hope we see some strength tomorrow but i don't feel great about it. when we hit 12 cents after the news BHP were having a look (12 months or so ago) we had a few more prospects (turkey was looking like the business, and SC 51 looked to be a good farm in - neither really worked out). are we now a one hit wonder?
i don't think so. galoc 2 is a gimme, and 69 is shaping up. lotto may come in with duhat. galoc 1 still has a lot to run given recent p1 upgrades. i think the market has this one wrong, but i'm not confident we'll see a turnaround soon. OEL is clearly an unloved stock. i feel we will be rewarded, but i can't see it happening soon given today's action. i hope i'm wrong. and i'm sure boysy agrees (that i'm wrong, that is).
-j
When the market realises the true value of the deal to OEL, ie how much cash they getting back, OEL will be re-rated, the SC55 project is now significantly derisked, with BHP assuming operatorship, but a rig must be secured, im sure BHP has the contacts to sort this out.

What counts against OEL is the lack of a serious drilling campaign to provide continual newsflow, its a steady as she goes oil producer with a narrow focus.

The African partnership could provide something out of left field, so they are still looking for opportunities...