big buyer, page-18

Well OEX is horribly undervalued. I am expecting traders will get a chance to churn this at the 7.5cent level, and if not there then the low 8s is definitely on the cards.

It is easily heading back to the low teens with news of a spud. What a capital destruction shmozzle this whole episode has been. Anyway, here's hoping we go for the best.

OEX is at rock bottom and should be seeking quality in its execution right now as faltering here will be very very adverse. A chance to make a great company!

I would hope they seek additional cash in the lead up to spud to make sure the coffers are covering contigency and the team can still deliver at pace. Active risk aversion is the best way to preserve the upside. Hope isn't a strategy as we saw when we plummetted from 50cents to 5 cents. The new MD has to be prepared to dillute the company and give himself options.

Cheers,

SF