I hold both - ratio of about 7 oppies to 1 head. I was fortunate to get in before Ice #1 which has worked out well to date - and past my CGT 12 month window.
Oppies offer you better leverage exposure to the same outcome, but expire March 2018 so they are now too short-term to get you the CGT tax-free window. I think still a good buy, but keep this in mind.
I'm not a trader. Don't have the skills or the temperament. I just do my research, stake out a position and then wait for the market to discover the same value (or more) that I see.
IMO the story here is good but it is still a coin toss.
A coin toss with an astronomical payout for "heads", and relatively small downside for "tails". I'll take that bet every day!
The result of the drill which is spudding next week, and consequent flow rates from stimulation testing which will be out late July / early August will be the key to either unlocking enormous potential (SP re-rate - happy days!) or send it back down to 1c or lower range. (There are some conventional prospects they could explore, but these are probably at least another year away).
If this follows the same pattern as the Ice #1 drill, then there will be enough interest in the lead-up to the spud and flow rates to see a decent increase in SP, possibly even allowing a "free carry" trade for the actual results if you are in early enough and prefer not to risk it all.
Well worth going through company presentations to get acquainted with the opportunity here - and plenty of well-informed folks on the board here who are generally happy to help out with explaining the more technical stuff. We're pretty fortunate to have some petro-geo guys and other specialists without whose expertise I wouldn't be here!
Some of the long-term holders have also put together a "Wiki" to collate useful information and presentations which often gets lost in HotCopper discussion threads. Might also be helpful: http://88ewiki.wikidot.com/latest-88e-news
Hope it helps and if you do decide to invest here - welcome aboard!
ASX Today, page-6215
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