very true blast off. however thats only what people have read....

very true blast off. however thats only what people have read.

as I posted earlier

11.6 billion barrell UOIIP "mean" resource.

35% recovery rate = 4.06 billion barrells, and

they only have 50% of the package = 2.03 billion barrells, and finally

a farmout of say 15% leaves them 35% of 2.03 billion barrells = 700 million barrells.

All very open figures of course, based on my quick scan of the ann late last night, but people need to keep in mind the fundamentals. I will have to go through and re-read the document.

Dont get me wrong guys, it looks like it has great potential hence following it but that ann, albeit sounding great is still speculative. NDO has been on the radar for quite sometime given the phillippines potential and links to galoc. The company does have a bright future.

Would not surprise me one bit if that ann has also contributed to OEL's price rise.