award imminent

http://business.inquirer.net/money/topstories/view/20080227-121403/DoE-to-award-7-oil-exploration-contracts


Oil at over $100
So this must be a sell, with only about 3,000bopd and ensuing cash flows coming on stream in a very short few weeks.

At the present oil prices OEL stands to rake in about US$60m net cash flow this year alone.
Plus the release of the bond of another A$14.5m - giving OEL some serious money in the bank to play with.

At the present silly share price they probably could do much worse than buying back their own shares.

Projected net cash 2008: US$60m
Shares on issue: 438,812,325
Per share 13.6c
Current pe at present oil prices: 2.35

Think I better quickly sell this stock…………………………………

Ah I forgot this company has a serious image problem and so many ghosts from the past to contend with…………… Yeah right, some posters would stoop to anything to discredit companies and directors for whatever inane reasons.

But of course the last laugh is always on them!