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This U play has been overlooked and here's why:

Woolgar Uranium (100%)
After reviewing historical data, "the potential for the discovery of significant uranium deposits was high"
The company is planning a comprehensive exploration program

Within this progect there are 3 prospects:
1. Perseverance-Shamrock
2. Middle Park
3. Sandy Creek

Perseverance-Shamrock Prospect
- rock chip sampling returned values up to 6700ppm
- uranium channel anomalies over 700m x 300m area

ESSO drilled a total of 2596m (RC + diamond) These include:
4.5m @ 800ppm (diamond drill hole)
3.0m @ 1000ppm (diamond drill hole)
9.0m @ 400ppm (diamond drill hole)
2.5m @ 600ppm
6.0m @ 2500ppm
3.0m @ 600ppm
5.0m @ 800ppm
3.0m @ 1100ppm
4.0m @ 1200ppm

- All holes were very shallow, within 100m from surface
- Drilled mineralisation is open at depth and along strike
- Full strike extent of the mapped anomaly not tested
- Historical grades at Perseverance is very impressive and could prove to be a significant U deposit with good grades

Middle Park Prospect
- Rock chip samples returned 2700ppm at Middle Park West
- Rock chip samples returned 6800ppm at Middle Park East
- Drilling returned rare narrow intersections
- The anomalies are not fully tested

Sandy Creek Prospect
- Airborn radiometrics flown in 2003
- Identified several new uranium channel anomalies similar to anomaly corresponding with known U mineralisation at Perseverance
- Limited surface sampling, returning up to 700ppm


Woolgar Gold Project JV (OXR earning up to 70%)
OXR earning 70% by spending $24m over 3 to 4 years + produce bankable feasibility study
Currently progressed into phase 2 (close to $2m spent)
OXR plans to commence a deep diamond drilling program up to 450m in 2nd Q
Current resource of 400,000oz Au (0 to 150m deep)
Potential to substantially expand resource

Soapspar Gold Deposit (100%)
Current resource of 45,000oz Au
Commenced mine prefeasibilty
Best intersections include 42m @ 5.84g/t Au & 14m @ 5.82g/t Ay
Potential for early cash flows (reminds me of AAR)
Heap leap style development, with significant margins with current gold prices

Other Uranium Projects (SA)
Siccus JV (10% free carried/DYL 90%)
DYL operator of JV
EL 3288 located southwest of Lake Frome, Frome Basin, SA
Completed airborne EM survey in Dec 2006
Preliminary interpretation suggest presence of Beverley structure
Potential for Honeymoon-style mineralisation
DYL plans to commence a drill programme in June-July

Martins Well Project EL 3508 (100%)
Adjacent Siccus JV areas
Adjacent SIM land holdings
Potential for Beverley style U mineralisation
Highly prospective area
Company planning a sampling and drill progam in 2007

Fundamentals
Market Cap: $31m
Shares on issue: 237.5m
Share price: $0.13
Cash on hand: $1.1m
OXR holds 2.34% of issued capital
Top 20 hold 70.96%