Fair comments MM2. I'm pretty much basing my investment...

Fair comments MM2.
I'm pretty much basing my investment stratergy on BHP drilling 2 or more wells. I think one reason OEL may have bought out Vitol is if BHP goes into a third and more wells OEL may be able to afford its share of the costs without farming down further.
I was reading somewhere recently where OELs PE ratio was 10 against an industry average of 20.The Sp at the time was about 8c. Now i dont know whether thats based on the current 33% of Galoc?
OEL has other near term activity than just BHP and Cinco .Mc Nab's said they'll drill another well mid year in SC51 , the first one i believe had good gas shows albeit only getting to 390 odd metres ? SC69s seismic verdict is due out in the next month approx , so another farm out could come thru there by 2nd quarter 2012.Sounds like they'll acquire more Philippine acreage soon( worth a lot more if Cinco is a success ?) . I guess some quality E/African acreage will be aquired about then too. I know they knocked back some acreage and have a strict criteria ,regarding financial risk etc.
So i think its looking a pretty solid investment at worst over a couple of years.
c