In regard to the question whether we will see an announcement about the outcome of Shells's Palta-drill or not, I flicked through the latest presentation of Octanex shown at the AGM as well as the Chairman's adress to the AGM dated 28th November.
On the presentation's page 8 it is stated among others:
2013 will be another important year for Octanex:
• Results expected from Palta-1 in WA-384-P where drilling is currently underway
On page 29:
• Octanex has significant residual commercial rights in the three permits via discovery payment entitlements (of up to US$10M per discovery in respect of up to 3 discoveries per permit) and a 1% overriding royalty on all production from each of the permits
• In the event of a discovery the overriding royalty has significant value potential for Octanex
• The drilling of an exploration well, Palta-1, in WA-384-P is underway and continuing.
• A discovery at Palta-1 will trigger material commercial benefits for Octanex.
So I think we will get an update of the results by Octanex (and maybe Shell as well), due to the fact that they should be "price effective" in a positive or negative way for OXX shares.
Comments / thoughts welcome!
Have a good evening
and a nice weekend,
Neo
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