OEL - (Otto) Multi based, Gambling Stock.

[boysy]

should be due for an update anyday now a update on bhp progress would certainly be useful as well

[Rabbi]

I don't think we can expect any SP action until we get some definite statement on Galoc phase 2 or a Philippines farm in. Cashflow does underpin the SP but all the excitement is in the Philippines and if BHP signs up for Drill and Thrill in SC51 there is a 50% rise to 15 cents on the cards.

The prospect of finding an elephant would be too good for most punters to resist

[boysy]

15 cents i would say significantly more than that they have to back pay a portion of costs i believe in the order of + A$30 million for work undertaken in SC 55 . Though would be great to hear an update on how things are progressing both galoc and other service contracts. A turkey update would certaily be useful as well

[shasta]

15 cents i would say significantly more than that they have to back pay a portion of costs i believe in the order of + A$30 million for work undertaken in SC 55 . Though would be great to hear an update on how things are progressing both galoc and other service contracts. A turkey update would certaily be useful as well

We must be due an update on Turkey anytime soon, still getting a decent price for the gas too

[boysy]

still a good buy at these prices ive topped up again today lets hope for a positive announcement on any front in the short term

[boysy]

In the an we should get a reserve update on both galoc and turkey and lets hope a update on sc 51 or 55.

[boysy]

Galoc phase 2 FID due by the end of the month

http://www.philstar.com/Article.aspx...bCategoryId=66

In a disclosure to the Philippine Stock Exchange (PSE), Philodrill Corp., a member of the GPC consortium, said “a final investment decision is expected to be made in September 2010.”

will be interesting to see what they are tageting in phase #2 and the likely cost of such work.

[boysy]

Things start to be heating up from bhp latest [presentation

http://www.bhpbilliton.com/bbContent...Conference.pdf

page 44 of note

It shows sc 55 as BHP operated and

Delivering basin, significant potential
(50 billion boe discovered to date)
�� Material position captured – majority of
acreage BHP Billiton operated
�� Multiple countries (Vietnam, Malaysia
and Philippines) but same rocks
�� Ramping up drilling activity in CY2011
with several wells planned for
Malaysia, Philippines and Vietnam
�� Significant seismic program scheduled
for the Philippines in preparation for
FY2012 drilling
�� Planning underway for wells in
Vietnam and Brunei

looks as though the bhp decision may be closer than we all thought

[Rabbi]

Things start to be heating up from bhp latest [presentation

http://www.bhpbilliton.com/bbContent...Conference.pdf

page 44 of note

It shows sc 55 as BHP operated and

Delivering basin, significant potential
(50 billion boe discovered to date)
�� Material position captured – majority of


acreage BHP Billiton operated
�� Multiple countries (Vietnam, Malaysia
and Philippines) but same rocks
�� Ramping up drilling activity in CY2011
with several wells planned for
Malaysia, Philippines and Vietnam
�� Significant seismic program scheduled
for the Philippines in preparation for
FY2012 drilling
�� Planning underway for wells in
Vietnam and Brunei

looks as though the bhp decision may be closer than we all thought

Yes OEL sitting on some pretty hot prospects and likely to be free carrried by BhP Billiton
who will get the lions share of the permit for taking the risk.

[boysy]

certainly looks interesting lets hope we dont have to read between the lines for too long