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
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Fair comments MM2. I'm pretty much basing my investment...
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1.2¢ |
Change
-0.001(7.69%) |
Mkt cap ! $57.54M |
Open | High | Low | Value | Volume |
1.2¢ | 1.3¢ | 1.2¢ | $16.98K | 1.374M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 13014166 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 13699183 | 20 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 13014166 | 0.012 |
8 | 9637915 | 0.011 |
20 | 23637452 | 0.010 |
2 | 5100000 | 0.009 |
5 | 595371 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 13699183 | 20 |
0.014 | 4665902 | 9 |
0.015 | 5327000 | 10 |
0.016 | 714285 | 1 |
0.017 | 72000 | 1 |
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