good buy at 2-3c? , page-42

It was an excellent result to get the placement away for such a large amount - the discount was not too bad either...

One negative is that OEL did not buy into anything new with this $$ they needed it to keep what they had. So with the exception of the interest bill that will be eliminated it looks like the EPS will be near enough halved going forward (not quite 2 x number of shares and interest bill accounted for would be 70% of previous estimated EPS).

That being the case Euroz and Strachan will have a hard time justifying sky high share price targets.

p1000