paul moore resignation., page-2

Drilling & BHP deal all due before he leaves.

Leaving 1st July - BHP deal or no deal due 2nd Qtr (Apr-Jun).

Certainly controlled the cash & got us out of that financial trouble. When he started we had no cash now $30+m

But was that good management or good timing?

Is he to conservative? Gas project then sold what seemed cheap although didn't produce as expected.

Same for drilling coming up - Having a pot shot so sold mosst of rights for what seems chaep as well if successful. If not well money for a dud is good.

He got BHP back on board or if they knocked again was able to come to an agreement. That may be his best move but wont be around to see the results or is it falling through & he has jumped?

Always hard to get a grasp of a he's leaving letter cause they play nice & blow a little smoke up the well.

Interesting times ahead - new CEO will be very important to getting OEL to take off.

Hopefully successful drill & BHP agreement will give them a good foundation to come into.