Whats happen to EJ Pert, page-34

There is no way oel can do a deep water drill by themselves, it is just not going to happen.

We might be an oil exploration company but when did oel last drill apart for Galoc? I guess if we do nothing (in terms of explorations), like we did last year at least the share price will eventually trade on cash backing. At least the cash in the bank is valued higher than the in ground oil at Galoc, so the share price should rises, providing Galoc keeps producing.

I understand why a few here have given up on this stock, but it is a buy here IMO.