OEL 7.69% 1.2¢ otto energy limited

They still need to come up with something more imo especially in...

  1. 30,164 Posts.
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    They still need to come up with something more imo especially in the event of Hawkeye being a duster and to ensure drilling Cinco. They were adamant at one stage that negative results at Hawkeye didnt reflect negatively on the prospectivety of Cinco because they were different types of structures, although recently this line doesnt seem to be being reinforced?
    OEL are saying "we have enough funding for the next 2 years exploration program" which on face value seems a large understatement. They're claiming a free carry on Hawkeye which i dont doubt, now they r saying " we will consider farming out Tanzania" which i would guess would be for a further free carry and imo quite a likely scenario. So the question is ....where is approx $40M getting spent because in the next 12 months if they do get a free carry farmout away in Tanzania they cant be spending much of that $40M?
    They clearly have the finances to consider other options ....like funding a reasonable part of Cinco....partnering into another well ....?
 
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