Cara,
I hope that is not a real scenario. I bought in Otto BECAUSE they have a healthy Cash Flow from Galoc. If they sold their cash cow, then this makes OEL a completely different investment.
The way I see it:
- use the Galoc funds to fund the ongoing exploration efforts
- continue to mature Galoc Central and Galoc North prospect, and potentially with another drilling campaign there
- farm out SC55 and hopefully get free carried with for example retaining 20 % (as time goes by, my expectations are getting smaller)
- if no farmout can be achieved in SC55, then we will have to let it go. It is too big for us alone. And if no one else is interested after such a long time, then probably something is wrong.
- continue partnership with Swala. The acreage in Africa is all land-based, hence affordable.
OEL Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held
