It all points to the oil price remaining high which makes any discovery by the junior oil explorers a very attractive commercial venture. One small oil explorer, Entek Energy is now looking relatively cheap although with results due of a gas target in the GOM and Byrock-2 drilling scheduled for early October followed with 5 wells planed for December/January both here and in the GOM there is definite activity here and scope for plenty of upside to come. Other very interesting developments that have excellent potential for this small oil explorer are: (1) The current processing of the Trocus 3D Seismic Survey comprising 118 sq. km. over the south eastern part of ATP 269-P, that lies along the southern flank of the Cooper Basin in Queensland, and includes a highly prospective Eromanga Basin play "fairway" that lies between the Kenmore field and several oilfields to the south and southwest”. http://www.beachpetroleum.com.au/files/permits/permit_coopereromanga_atp269p.htm (2) The current processing of 165 kms. of 2D seismic and repossessing of 450 kms. of existing seismic.
OIL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
