Ann: Investor Presentation-OEL.AX, page-8

Hi Moneytree and Crabbe21

My interpretation of the presentation is that Page 19 shows 5c for Prospective Resource at Biv Peak, not production, but it's not described as well as it might. Then we have at least 12.5c per share for each of the prospective resources of Biv Peak, Alaska and Tanzania. The graph is deliberately cut off at a value of 27.5 c, so we don't know the full value calculated by OEL for each of these.

IF all of these opportunities came good, we'd be looking at a value of nearly 50c a share....or up 10 times on today's price.

Re the sales spiel in advertising what a great buy is OEL, the author needs to calm down a bit. They say 'sitting on three massive, high potential fields ...including the billion barrel field in Gulf of Mexico.' Nowhere have BYE or OEL claimed to be sitting on even 100 million barrels in the GOM.

I do agree, however, that OEL is very undervalued. With success at Alaska (even though each of six prospects in the two planned drills have COS of 10 - 40%) and Biv Peak, we could see 30c in 12 months or whenever Biv Peak is drilled. (Now delayed to Q3, 2017.)