Buying now at say 50c may be as close to a 'capital protected' bet on a junior oiler as you can get imo.
The problem is illiquidity ofcourse , but say you bought today at 50c , the upside next week is substantial on the (unlikely) event of a commercial hit. Perhaps $1.50 share upside?
Now the downside (most likely) is probably 20cps on duster news , but may quickly recover close to 50c (break even) on the more likely success at Galahad-1?
Lets see how this plays out , but I suspect the buyers in the low 50s of late have had similar thoughts.
DYOR
OXX Price at posting:
50.0¢ Sentiment: None Disclosure: Held
