We"ll see what the production costs are when we get some decent production. Atm admin costs per barrel must still be astronomical.
Total costs are what interest me, sick of hearing oilers going broke claim they are making wonderful (EBITDAX) profits, or where profits from the field can't carry the overheads.
With OEX I still hold ( only a few so far), but are still waiting for that elusive cashflow.
As for Buffet, well he as good as demonstrated that he didn't know jack about investing in oilers.
EL
OEX Price at posting:
21.1¢ Sentiment: Hold Disclosure: Held
