Did anyone else notice who also has a booth at this weeks Houston oil show? I'm thinking why doesn't Ferguson (are you reading this Dougal???) take a 30 second walk from the XCD booth to the ConocoPhillips booth for a chat? Ok no guarantees but what does he have to lose especially since Harpoon-1 spuds mid to late Feb. (Petroleum News) Their Harpoon prospect is the one within "spitting distance" to XCDs acreage. If they strike oil there then XCD is up for a massive rerating - at least back to the mid 1s. Speaking of wells spudding our mates over at 88E (yes I am a shareholder in 88E but only a small holding - more bang for my buck with XCD) who reckon Charlie-1 is spudding in the next 2 or 3 weeks. Same deal for XCDs SP as Harpoon-1 if they strike oil. After the big dump into a cent yesterday I now own half of one per cent of the entire company! Any more and they will have to offer me a seat on the board! It shows how ridiculous this is with only 700m shares. At a cent the whole company is worth $7m - strip out the cash and its $4.3m. To put it in perspective my parents sold their Sydney house for more than that 3 years ago. Not sure about you but I'd rather have the Alaskan acreage and the possible 1.6Bbbl of oil than a 40 year old house.
XCD Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
