value is ???

I just had a reread of the last 3 quarter ann's.
Why the hell the market thinks the value of this company is only about $110 mill defy's logic.
With 29mill cash, a May cargo with sold contract at over $100 a barrel. Some serious 3D over 3 seperate area's
...............
Otto has completed acquisition of over 210 km2 of 3D seismic over the Lampos and Lampos South prospects during June 2011.
Otto continues to process the newly acquired 3D seismic data and expects the final resulting data to be ready for interpretation shortly.
..............
Two or three wells expected to be drilled in next 12 months ,all with good potential, high prospects with a likely farmout of the Lampos area within this 12 month period.
Multipal drill targets in 55 with Cinco a definite but delayed for a undetermined time. Best possible could be within 6 to 8 months. Then probable hawke eye and other multipal targets for development of the field. Just have a reread of the Sept,December,March quarters.
Its worth it to remind yourself of the fundamental reasons for buying shares in Otto.
So from me a very strong buy with a 12 month view of gaining serious money and value.
The top 20 retain greater than 70% of the company with
Paul Moore holding 3750000.
Some have added a few to there holdings in the top 20 and a few have lightened.
I think those who sell at these current prices on very low volume are stressed or distressed sellers.
All the best to all. 247