i think it might take several weeks to get news on the Oman well. they have to do a lot with this well. i expect news out of the current Cambay well. This one should also be good as its encountered a larger pay zone as they drill across the lease. India is looking like containing over 100m barrels of oil in place when you start adding up these zones. It could be a lot more than that. OEX is going over the new data now to determine the best way to crank up the short term production. OEX has the oil, so its about production now in Oman, Cambay and Indonesia. The next couple of months is about bringing this stuff on line and taking oex from an explorer to producer. Given that the FED has stuffed so much money into the system, we might expect another commodity boom to rise with expected longer term inflation. That can only be positive for the oil price and more OPEC cuts. This is not good news for people who don't own an oil stock. As production comes on line and continues to build, oex should start getting coverage from more broking houses. The cost of production in Cambay is a fraction of the current price. dyor.
OEX Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
