OXX 0.00% 0.6¢ octanex limited

The price of oil in AUD has only fallen around 8% since June...

  1. 1,190 Posts.
    The price of oil in AUD has only fallen around 8% since June 2014.

    http://www.indexmundi.com/commodities/?commodity=crude-oil-brent&months=12&currency=aud

    So maybe there is a remote glimmer of hope with Cadloa.
    But with a reserve of only 6 million barrels, compared to other fields of 200 plus million barrels, its just so small. The NPV was around $120 m, but if you were to drop the price by  say 7% the NPV may drop down to say $70 m (guess).

    I think both OXX and PKO AGMs will be after 27 Nov when OPEC meet.
    Woodrose and the financiers may act in Dec.

    Shale oil and lower oil prices must be helping the US economy, possibly they will increase interest rates earlier next year without fear of damaging the US economy.
 
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