otto no longer the "bridesmaid" now the bride, page-5

MORE,M re your post
"While a 2nd drill mayb possible it would depend on many circumstances & could be ages a awat."

BHPB have spent over $30 million on seismic in SC55 and Hawkeye is in a different geological setting from Cinco. I
believe BHPB will drill at least a second well. If they drill the question is HOW SOON AFTER (i.e DAYS or months)the first well will they drill the second well , keeping in mind that the permit work program requires a second well has to be drilled by August 2013.


Yes if the first BHPB well is a duster then OEL's share price will probably CRASH back down from 18 cents a share to between 8-10 cents per share.

As at 30/9/11 OEL had $28 million cash , 33% of SC14C GALOC 93.2% SC55,40% SC51, 70% SC69 plus ownership of GPG AND
1138290071 shares on issue.

Until BHPB becomes the operator of SC55 then OEL's share price will probably drift along below 10 cents but once we
know all the paperwork is done I believe OEL will start
to be rerated and even if Cinco is a duster I doubt if OEL share price will ever be below 8 cents again as they have too much going on (read the company presentations on OEL to see why I rate OEL as MASSIVELY UNDERVALUED ).