The OXX is looking like a potential bolter in 2013 if the cards fall its way. Just a quick glance at this tightly held oiler with plenty of cash v market cap.:
- currently has a stake in Palta-1.If Shell has success here, OXX could suddenly become viewed as a producer.
- Winchester to be drilled in Q1 2013 with the ENSO 109 rig all set to go. Santos is a respected JV partner. This should gather some SP traction as a BESBS play.
- Now we have an extra $12.5m cash from NZO and still keeps a significant free-carried interest in Matuku (looking at a late 2013 drill).
Been holding since Sept (see earlier posts) at a 14.5c ave. and happy to ride the OXX at present. Wondering if we will see further SP gains in the next week or so as Palta drills further?
The OXX is looking like a potential bolter in 2013 if the cards...
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