Found my way into this stock the other day, after doing some research on Canning Basin plays. OBL is looking quite strong, and seems prospective even as a long term play.
It was 2 cents at the beginning of the year on Jan 3, and now is up 140%. The only ASX oil and gas stock, out of 125 identified, that I could find that has done better since Jan 3 is MAD, which is up almost 249%.
OBL has a lot of potential in 2012. I hope things fall into place with the Canning Basin and Carnarvon farm-ins, and with the drilling, and with the indigenous stakeholder negotiations. It's proximity to the proposed James Price Point LNG plant might be the reason some indigenous groups view OBL's project as problematic.
The Gippsland projects are also looking like a good investment from this company.
Gw
My formula for success? ... " Rise early. Work late. Strike oil. " J.Paul Getty (1892-1976)
OBL Price at posting:
4.8¢ Sentiment: LT Buy Disclosure: Held
