md's agm presentation - nabrajah and petrochemival

Excellent presentation by Botten today in what's been a record year! I would recommend a look. OSH has been the best performing O&G stock in the ASX 100 in terms of shareholder return (share price gain + dividends) and looks set to grow strongly IMHO.

Of note is the information (not seen so far elsewhere I believe) on Nabrajah!! They have defined by Nabrajah 1-6 a 210m gas column above a 250m oil column and the oil column could be a total of up to 600m. They have defined three production horizons. These are the Quishin that is being brought into production in June, the Basement that flowed at 5,800 bopd and the Kohlan that flowed at 4,180 bopd - which could be in production by Q3 or Q4. And the whole thing is unconstrained laterally by seismics. A recent quarterly report presentation by DNO showed the currently defined Nabrajah oilfield to be only a fraction of the prospective Basement area in the JV's Block 43 (perhaps 1/25th).

This is looking like a major discovery! If we had a 200m gas column and a 250m oil column (that is likley to be up to 600m gross) offshore Mauritania - HDR and JV partners would be skyrocketing! And this is on land and close to infrastructure and it has already flowed at 10,000 bopd and will be in production within months.

This could partly explain the strength shown by OSH recently despite falling POO.

VERY encouraging stuff! Don't take my word for it and don't call it a ramp before you have a look for yourself!

H