Gann mate what they mean is the Price of oil Poo, The valuation was done at the long term price of oil being at $75 to $80 dollars not at currrent prices $130 US + I think you will find OEX is being sold down by An investment firm called Oceanic investments they have beeen selling down ARU and a few others slowly not trying to place it but very slowly. It might be worth you going to OEX web site and reading Hartley's report if you like and fat phrophets report to give an indication of the drilling program and what is expected. While yes it would be nice for oex to go straight into production it can't be done without appraisal of fields which they are doing now. So while most investers think the oil bubble will have burst if it drops back to 95 dollars US most oil companies will be still making money hand over fist at that price while the masses will be happy at the petrol pump.
OEX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
