The three risks relating to that are.
1. A Duster.
2. A success but then a long wait for a new development program and a new farmin partner with Otto maybe needing a cap raising for sufficient funds to develop the field at a very high cost. Just look at CVN to see the scenario that could occur an they have some income.
Otto has none.
3. A further delay in the Africa drilling program to a date later in 2016.
I have sold a substantial amount of Otto because of these risk factors.
Mathew I would like to see a comment or a update on ASX of the possible time frame for drilling in Tanzania.????
I will buy back in if Otto go to 5 cents.. Unlikely prior to August drilling.
Also look at PVD with lack of info for there high risk reward drill programe.
All the best to all but I have taken a profit and will wait for the next 2 or 3 weeks to see if I will take a punt on re entering Otto.
The rewards are high if a success and a possible take over but its a gamble in today,s oil prices etc. 247
The three risks relating to that are. 1. A Duster. 2. A success...
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Last
1.1¢ |
Change
-0.001(8.33%) |
Mkt cap ! $52.74M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.2¢ | 1.1¢ | $2.037K | 173.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 4510236 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 960979 | 4 |
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| Last trade - 15.58pm 05/09/2024 (20 minute delay) ? |
| OEL (ASX) Chart |