Ann: Drilling Commences at SM-6 well in Gulf of Mexico, page-95

88E is being traded by the pro market makers and has a huge Pommie following from the old Tangiers days. 88Es management are in sync with the market making Pommie pros...they feed off each other and it's good for the SP...but the stars must be in alignment on many fronts for the pros to start the run

OEL imo is still too early in the piece for the pros to feel there is enough pent up value and momentum and aligned starts to let her start running. We need to get closer to drill target, get some more runs on the board with PoO, more of a sense that 88E is not just a pump and dump, etc., etc.

Imo GoM if it comes off or another success story such as a farm out in Tanzania will be the keys that suddenly unlock the Alaskan potential in the SP especially if 88E is then still performing well. However, this will at some point start rubbing off in any event imo.

These situation are deliberately counter intuitive in the start while the smart money is getting set. E.g. I punted PLP for weeks if not months to my fellow day traders in the .5c to .7c range based on my observation of the accumulation action and other FA potential without anyone taking a major interest in fact it even got sold down a few pips. And then suddenly boom!!...the right news hit and the stars started aligning and off she went...despite massive supply being offloaded....the point being that you will miss out on most of what this type of play offers unless you get set early in the piece...

TA speaking OEL is well positioned on the daily yearly chart i.e. nice and low with a huge open gap overhead and FA speaking it is quite frankly one of the best bang for buck oil explorer plays on the ASX imo

Patience is still needed but my sense is that if technically we break the supply at 3.2 to 3.3 there could be a quick run of 3 to 4 pips up from there...when that happens we'll be even closer to drill target so no one's selling down from there...and so on...