re: spot on, I agree that the price action in this stock is...

re: spot on, I agree that the price action in this stock is quite different to normal oil speculation plays. The amazing thing is that there is no speculation in the price as it stands. I think OPL is undervalued as it is and contains no exploration premium as it stands.

Look at the table in the recent presentation indicating OPL's various projects and their corresponding reserves potential. Everything is exploitation/development in nature hence the high probability of success. These targets are not wildcat wells.

I would encourage everyone to also look at the photo of the Sledge-Hamar well in the same presentation. Notice its proximinty to the Belridge Field. Shell and Exxon have drilled right up the the edge of their acreage ... and I guarantee you that no oil field know when the edge of a lease area! It's a given that this billion barrel field (one of the 10 largest in the US) extends into our acreage. That alone justifies a higher price than we have at present.

I continue to buy, though I already own more than I should.