Don't forget it is a great management team... that many companies lack of (check recent development)...
And the drilling should start soon (recently mentioned in http://asx.com.au/asxpdf/20100805/pdf/31rr7f1p0rsykq.pdf):
"The Company has engaged its Backreef Area Joint Venture Partner Backreef Oil Pty Limited (as nominated Operator and free-carried as to 10% by the Company)to make preparations for the drilling of Backreef-1, including to source suitable drilling rigs and equipmen..."
Plus this summary is well written in regards what we should expect: http://asx.com.au/asxpdf/20100802/pdf/31rnzcfg47djyv.pdf
Monako
OBL Price at posting:
5.9¢ Sentiment: LT Buy Disclosure: Held
