OEL put out the following for SM6 the ST-224 drill (a 25% WI)...

OEL put out the following for SM6 the ST-224 drill (a 25% WI) was about $2.8M

"The SM6 #2 well is the first well to be drilled as part of Byron’s farm-out to Otto Energy Limited (“Otto”) (ASX:OEL), announced on 11 December 2015.In order to earn a 50% working interest (equal to a 40.625% net revenue interest) in the South Marsh Island block (“SM6"), Otto will contribute 66.67% of the total estimated costs of the SM 6 #2 well of $US 8.0 million ($US5.3 million Otto and $US2.7 million Byron). Any costs above $US 8.0 million in respect of the SM 6 #2 well and all future expenditure in SM 6 will be in accordance with Byron’s and Otto’s respective working interest (Byron 50%/Otto 50%)."


And this doesn't happen very often (for me anyway since usually as soon as you post something on HC the exact opposite occurs) .... my query to the technical chartists re why wasn't a low to 6cps or just below just as likely as "10 years highs" actually came to occur.

Happy to say I more than doubled up at 5.9 cps (so half expect it drop). Totally agree it is undervalued compared to its peers and generally. But then again there is a reason for everything in the market if you believe in efficient markets (and I do).

Good Fortune To All