Oel got a sensational hit rate because they have chosen the right partners (Bye, Talos, Hilcorp) with sensational successful geophysicists and geologists for the right exploration projects.
Houston is still the Mecca for oil and gas upstream technology but be careful , this cowboy venturers know how to rip off too.
At the moment I like Oel but
We have too many shares.
We will have outstanding debts to finance the developments of our discoveries (it is not the first time that a loan shark steals the oil and gas fields from the share holders of a small oil company, caused by a temporary oil price crash, overstretched loans etc.)
5.000 bbloepd is a nice number for a small oil company as Oel but explains that the discoveries are small or we got just a small share or we do not have enough production wells at the moment.
Hopefully this run of successful Wildcats with extraordinary exploration luck does not end for the upcoming wells. Hopefully the oil price does not crash temporarily.
In my humble opinion it is important that we can pay our operations and exploration plus some extra earnings for the shareholders (share buy back and/or dividends) from our cash flow as soon as possible . And then we will be out of the woods finally.
Sensational Hit Rate but, ...
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Last
1.3¢ |
Change
0.001(8.33%) |
Mkt cap ! $62.33M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.3¢ | 1.2¢ | $12.34K | 1.028M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 17892904 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 12332282 | 21 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| OEL (ASX) Chart |