new broker report from hartleys, page-18

Find this bit interesting and pleasing.
Interesting because no mention of Galoc North.
Pleasing because the buyback gets a mention and admin costs will be cut.

Capital management......
By the end of CY14 we forecast OEL will have close to A$35m in cash on its balance sheet. With only modest capex commitments in Tanzania there is scope to consider dividends, buy-backs and M&A opportunities. Management have indicated a willingness to consider all options. In addition the overall business continues to be streamlined with cost being cut out of both the Perth and Manila offices. For the 9-months to March corporate administration costs were annualising at US$7m. We believe this will be closer to US$5m for FY15.