The trouble is that in this industry although the OPEX can be trivial (as some may believe will be the case with Cambay), the CAPEX never is. Also in the OEX case you need a lot of production (even at zero OPEX )just to cover the corporate overhead. Then there is the exploration and development budget - a lot of headwind.
We have the potential, but we are not there yet, atm can't even get the rickshaws to the refinery!
EL
OEX Price at posting:
21.1¢ Sentiment: LT Buy Disclosure: Held
