For those who are not in, they don�t believe in OBL stories. But there are some who has been in but sold out recently when it dropped to 2.5 cts & that was when Kim�s came in & bought over 3m of shares.
Either we like it or not, this is what is happening to OBL:- - Only 300m shares issued & MC of $10m - Backreef1 strike oil but waiting further assessment, potential company maker - Recently chairman bought 3m over shares on open market, huge psychological boost - 100% own Backreef - 100% own Cyrano oilfield, with upgrade OIP, P50 10.13MMbbls - CSG & USG operator for 5/07-EP8 which is 50% own - Major shareholder is LNG, 7.5% mostly bought at 4cts - 5/07-EP8, CSG best estimate 6.5 TCF, USG best estimate 3.25 TCF - Signed SAA with LNG, if gas discovery, then ready & easy market available at doorstep - Waiting for farmin partner or refer to pg 18 of 4th april presentation slide item 2, �should future appraisal drilling and/or oil production tests prove successful � oil could self fund other CSG& USG projects.�
Are all the above not worth 3.5cts? Let the market judge in days to come. No need to be a rocket scientist to know how fast & high it can go if it ever started to move.
OBL Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
