OEL - (Otto) Multi based, Gambling Stock.

[Rabbi]

Still waiting for that cheque to clear Boysy . Broker was able to bank it in their Client Aussie dollar trust account but I still have to
wait 10 days for it to clear. Just my luck SP will roar into life and go up a cent the day before I can buy on market. Just last year
you could have had $15000 worth at 3.5 cents.

This is breaking my balls and making me spit blood.

[boysy]

Well Rabbi the SP is moving the wrong way at present so perhaps the clearance time is a blessing in disguise ?

[percy]

Still waiting for that cheque to clear Boysy . Broker was able to bank it in their Client Aussie dollar trust account but I still have to
wait 10 days for it to clear. Just my luck SP will roar into life and go up a cent the day before I can buy on market. Just last year
you could have had $15000 worth at 3.5 cents.

This is breaking my balls and making me spit blood.

I deal with full service broker Craigs.I have a NZ cash management account, and an Australian cash management account.
Any rights issue,SPP refunds or dividend cheques I give to them.They allow me to buy shares against the cheque straight away,or for clear funds I must wait 3 days.Incredible service.They take up rights issues and SPP for me.
I have chosen, where possible, dividend reinvestment with Australian companies.
I am currently have an issue with one company,They who no longer send cheques.It is possible for them to pay into a NZ bank a/c,but so far they have not managed it.Given them the S,W.F.T.number and the BSB number.
Any rights issues I want to take up I phone the registry and get them to email entitlement form,which I then send onto Craigs,who take them up for me.
Often the paper work arrives after the issue has closed.

[upside_umop]

I had the "BPAY foreign check refund issue" a few years ago with ASB so was weary of using them again for oversubscriptions.

I now also have an IG brokerage account (discount brokerage). IG managed the process perfectly:

- IG emailed early in the process to ask if i would like to participate.
- I replied that i would with oversubscriptions (i was ambitious...)
- They took the funds out of the account on the day of closing.
- Refunded the monies that i wasn't successful for on oversubscribing the day post allotment. Happy days.

Recommend IG.

[Rabbi]

You learn something new every day, and quite often the hard way, but its clear that under the current system
a cheque that takes 9 days to come from Pearth, and 10 days to clear, is disadvantaging New Zealand investors
who haven't got access to BPaY.

My broker did say, that I could trade the refund money before it had been cleared by the bank, but by that
stage I was that peeved with having to drive into town, in the rush- hour, cap in hand and cheque in hand,
wasting time and petrol money, that I told him "get stuffed , Ill wait." They quite happily make money on our money,
and then make out they are doing us a favour, when they allow us to use their trust account money to take
even more brokerage.
Thanks for your input gentlemen, it's much appreciated.

[Rabbi]

Managed to top up last week at 6.8 cents and now waiting the results of two drills. GOM drilling seems to have
reasonable success rate although there is going to be some dusters along the way for sure. By any metrics OEL
is undervalued and even if these two drills are dusters, there is still plenty more action on the horizon.

[boysy]

Three drills if you include completion of The F#2 B55 sands - POO popping at the right time should they hit oil in any of the drills. Good pick up at 6.8c still seems severely undervalued finding oil is likely cure for that ....

[boysy]

likely timeline in next few weeks

- Outcome BT in next week
-outcome of B65 sand at SM71 next two weeks
- outcome BP next 2-3 weeks
- lighting to begin some time in next 2-3 weeks

So in the next month we should have outcome of two new drills, outcome of the completion of the B55 sands and a new drill underway. Even better all available for the bargain price of 7.1c per share, will OEL continue to fly under the radar, it has to have one of the most compelling drilling programs for a junior oiler let alone the ~1800 BOPD being produced in the GOM ....

Might just take a find at BT or BP for the market to cotton on ....

[Rabbi]

They rate Big Tex probability of success at 54% with anything from 0.5 million barrels to 16 million barrels with a mean of 6.8 million barrels.
Bivouac Peak with a best estimate of 32 million MMboe equivalent although higher risk I understand.

However Alaska is the elephant in the room with the large Nanushuk prospect to be drilled early 2019 coming in at a whopping 400 MMbbl Ottos share at 75 MMbbl's.

Seven more prospects to be drilled with Hilcorp energy in the GOM after Big Tex all relatively low risk and fully funded from recent capital raising and current cash flow.
Lots to like about OEL but dyor.

[boysy]

Good press out today - strong SP reaction to the impending BT results me thinks ....

[Rabbi]

I can never figure out the capricious of Mrs Market. All information has been out there since the capital raising yet she picks today to do
her buying.
Not that I'm complaining.

[boysy]

exactly Rabbi it has been no secret the metrics for otto yet perhaps it was the spectre of the CR done some months ago still lingering round or people suddenly realising they are drilling three wells at present with results on the first due any day now (perhaps a bit of FOMO). Best day on the sharemarket in quite some time due to being overweight OEL ....

[upside_umop]

Good day out for Otto, that's for sure. Make's up a fairly large chunk of my portfolio which is always risky around drilling time - may need to drop a few off pre-results to reduce risk and buy back in on any dip. There will be up's and down's in the weeks ahead.

I do like the chart that Otto present showing the Market cap to flowing barrels of oil. It would look better for them (relative to CTP and HZN) if they did it on a EV basis, rather than market cap basis. I don't really mind, I hold all three :D

[boysy]

Will be interesting to see how hard it runs or retraces today yesterday’s pop may of got it noticed on a few radars afterall ...

[boysy]

TH until both drills outcomes are known if they find commercial hydrocarbons in one it will be like winning lotto .... don’t want to tempt fate and suggest they find commercial hydrocarbons in both ....

[Rabbi]

Boysy, based on the frenzied buying into OEL before the trading halt , I''m postulating a discovery at big Tex.

There is enough second guessing and speculating, about Bivouac peak over on HC, without doing it here.

Quite happy to wait for this one, TAB winning ticket in hand.

[boysy]

Agreed speculation galore on HC let’s just hope they hit commercial hydrocarbons at BT as BP is not looking good ....

[upside_umop]

Given BP drilling wasn't to complete until early November, I think there are three current scenarios:

1. There has been a serious mechanical issue with the drilling and they have halted until they have a known path to resolution; or
2. They have had a sniff of hydrocarbons already and would like to assess without releasing any information to the market until they are certain of what they have found; or
3. They are about to enter the top of the target formation and would like to have clear communication to the market (rather than speculation) of the results.

Surely if BP was a duster, they would have announced it fairly quickly. Why would they put the securities for all ASX Co's involved into a halt for the full day and not release to the market!

[boysy]

Look at the latest on HC it appears as though the P&A permit was verbal only and has now been withdraw good thing it’s in trading halt would of been traders paradise all of the misinformation flowing around ....

[Rabbi]

Look at the latest on HC it appears as though the P&A permit was verbal only and has now been withdraw good thing it’s in trading halt would of been traders paradise all of the misinformation flowing around ....

As I suspected BP not commercial and BYE down 5 cents on the news. Big Tex was rated over 50% COS so here's hoping.
Announcement tomorrow morning at the latest.

[boysy]

lets hope they have called heads or tails right on this drill .....

[Rabbi]

They must be gathering more drilling data . Leaving us all to speculate all weekend over the permeability, porosity, and huge pay zone of the

elephant they tripped over.

[boysy]

yes not long to wait wouldn't it be great to have hit commercial hydrocarbons on the first hilcorp drill ....

[Rabbi]

yes not long to wait wouldn't it be great to have hit commercial hydrocarbons on the first hilcorp drill ....

Unfortunately well was sub-commercial and the dumping today is an overreaction to the news. All part of the oil business
and if you can't stand the heat you shouldn't be invested in this sector. The worry would be if every well came in a duster
but that is a worse case scenario, which I can't see eventuating with today's seismic technology.

I recall the ex CEO of Victoria Petroleum (now Senex Energy) being referred to as "dry hole Johnny" as he had a bad run of dusters.
Towards the end of his tenure however, he had quite a bit of success and was CEO when they discovered the Growler
field. Every exploration well is a roll of the dice.

[upside_umop]

Look at the latest on HC it appears as though the P&A permit was verbal only and has now been withdraw good thing it’s in trading halt would of been traders paradise all of the misinformation flowing around ....

Interesting that results were obtained so soon - was expected to take 75 days from late August and as recently this month, Otto communicated results were expected in November. I never got to sell any down but nevermind.

Also disappointing re: Big tex. That's the nature of the game. Still there are exciting prospects to come and on a risked basis, it says we should hit something commercial....here's hoping anyway!

[Rabbi]

I'm tempted to buy more of these at today's prices before the crude price recovers, if it ever does.
The tree is certainly getting shaken at the moment, with Woodside ,Santos and Beach taking significant falls yesterday.

[Rabbi]

OEL in partnership with operator Hilcorp have made a significant discovery in the GOM with the Lightning prospect coming in with 180m
net pay.




Lightning Well Delivers Significant Gulf Coast Discovery (https://stocknessmonster.com/announcements/oel.asx-6A918865/)














Lightning Well Delivers Significant Gulf Coast Discovery (https://stocknessmonster.com/announcements/oel.asx-6A918865/)

[boysy]

Good jump today think this is just the beginning looks to be a huge find in comparison to what they thought they were drilling for ...

[Rabbi]

Good jump today think this is just the beginning looks to be a huge find in comparison to what they thought they were drilling for ...

Yes, Boysy it could be a ripper and I wait for production testing with anticipation. However, it is only a minnow in comparison to Winx in Alaska, where the real Elephant hunting is taking place on or about the 15th.
I'll give the OEL team their due, they are not afraid of the drill bit. Compare with NZO in NZ who have done next to nothing over the last t few years.
You pay your money and you take your chances in this game.

[boysy]

Agreed but good to have a few irons in the fire a find at lightning could be just icing on top in Winx-1 comes in ...

[Rabbi]

Well the Winx drilling is underway but hold onto your hats as it is frontier country in Alaska.

Winx-1 is located approximately 4 miles east of the Horseshoe-1/1A well that significantly extendedthe highly successful Nanushuk play fairway to the south. Winx-1 will target gross best estimateprospective resource of 400 million barrels of oil (75 million barrels Otto’s 18.75% net revenueinterest) across multiple stacked objectives, including the Nanushuk Formation, which is the primarytarget of the well.

[boysy]

Bring on the lightning well test results .....

[Rabbi]

Yes Boysy they must be due to be confirmed an day now. All they have to be is gusher- gusher -gusher in all zones
an the SP is away.

[Rabbi]

Yes Boysy they must be due to be confirmed any day now. All they have to be is gusher- gusher -gusher in all zones
and the SP is away.

[boysy]

yep i think people are underestimating the size and composition of the discovery - lets hope its a major field development ....

[boysy]

well early indications are that winx is sub-commercial - lets hope they have a lightning update pronto that could really drive the short term upside along with further SM71 infill drilling and the remainder of the Hilcorp programme .....

[Rabbi]

Apparently early indications were a tad cynical Boysy. Wire-line logging will confirm what they actually have, and then they need
production testing. It's looking more on the positive side although statements to the market have been very cautionary to date.
I suppose that is because of the "HUGE" prospective resource they might have struck. Many pundits believe Don Julio
is likely to come in too. Exciting times for Otto, the multi based gambling stock stock, now living up to it's name and rewarding those not scared of taking a punt.

[boysy]

Big week ahead for OEL really could be transformational:

- Lightning update - confirmation of additional net pay if any - flow test update - could be bigger than SM71 to OEL
- DJ update - not expecting much here ....
- Winx-1 update expected by no later than say Thursday, wouldn't be surprised if we hear an update at the same time as the TH is lifted.

All in all could be a hugely transformational week for OEL.

[Rabbi]

The lightening well looks to have exceeded everyone's expectations with the net pay being huge, good flow rate,
together with a high ratio of condensate.
The market is awaiting for more on Winx as these Alaskan prospects can be complicated, to say the least.
Testing continues but I would be circumspect.

[Rabbi]

Winx a duster so onwards and upwards in the GOM. At least we have two producers so far
and some interesting drilling prospects coming up. 88E and Red Emperor sp's hammered.

[Rabbi]

TRADING HALT!

If there is a capital raising I'm in boots and all ;but I also counsel caution as there is a danger
they could overextend themselves ,and either end up mired in debt, or with so many shares on issue
they will never get out of penny territory.
On the positive side Matthew Allen is supposed to be a financial genius, with the qualifications to back it up.
He also has a habit of getting lucky, so I'll go with the luck and put more money in the pokie.

[boysy]

Let’s see the terms first rabbi ....

[Rabbi]

Having only had a cursory look at the presentation I have to say they are sticking their neck out here.It's as if they were reading my mind.
Dilution, dilution , dilution, so the admin. costs and all the big salaries and directors fees can be paid. I've seen it all before, 5.3 cents to take up
your entitlement and then she will probably trade below 5 cents for the foreseeable future until they have more success.
True, they are trying to strengthen their cash flow and production base, but on a 60% COS appraisal prospect which could turn to custard.

[JBmurc]

10.5c price target valuation

https://www.asx.com.au/documents/research/phillipcapital-oel-greencanyon21-capitalraise.pdf

[boysy]

Let’s hope we get some good news re lightning flow prior to the Retail portion of the CR closing in a few weeks time ...

[Rabbi]

Yes, the lightening result if outstanding will give the capital raising impetus and should ensure a
higher share price afterwards.
Then bring on Mustang........

[Rabbi]

They might have hit another winner with the Bulleit appraisal well striking significant pay in the top zone.
Prognosis is that the lower zone could be a baby elephant, with high flow rates. However with now 2.2 billion shares on
issue after the last capital raising, they are going to need some gusher to move the share price.

[boysy]

good initial result - my thoughts the development could be feasible on this result alone though only a few more days to wait until the MP sands result comes through - if it is a good result i expect to see a material increase in the SP - and also likely further upside on the resource potential as mentioned when the farm in with Talos was entered into ....

So many catalysts in the next few weeks and months ahead i am surprised by the lack of support. Perhaps a oil find will shine the light on this unloved share

[Rabbi]

Let’s hope we get some good news re lightning flow prior to the Retail portion of the CR closing in a few weeks time ...

trading Halt! Here it is- the Lightning flow testing results-if outstanding should give the SP. a turbo lift.
They really need the cashflow from Lightning to justify higher SP as Bulliet cashflow is medium term and no
doubt requires more capital expenditure before it flows like the clappers.
Matthew Allen did seem confident so here's hoping.

[boysy]

yep he certainly did, bring it on ....

[Rabbi]

yep he certainly did, bring it on ....

Cashflow at 10MMscf a day, and 280 bbl of condensate is not going to be a company maker, so the market has factored in not much.On the other hand, it does appear to be
a decent size field so the revenue should be there for many years to come.
Always looking for the" elephant in the room" but extremely hard to find.

Maybe mustang might be it?

[boysy]

First well of four i recon - payback period of ~12 months can't really beat that type of payback in this sort of market, incremental production increase is what we are after after all .....

[JBmurc]

Been BUying more 4.5c either going be a brilliant or stupid move will find out very soon TH anyday

[boysy]

JBmurc looks like a good result out today should run hard from here if further positives come through .....

[JBmurc]

Yeah stoked with ann. just what we needed 57mill in volume ... should trend higher from here

[boysy]

yes i think the market will take some time to realise how much oil they have found and what bank funding will enable OEL to achieve ......

[JBmurc]

yes i think the market will take some time to realise how much oil they have found and what bank funding will enable OEL to achieve ......

yes might pick-up a few more tomorrow

[boysy]

Great link to the shareholder call by Deus on HC


http://s000.tinyupload.com/download.php?file_id=77162662118287852270&t=7716266211828785227016144

Sounds very promising all round this should be trading substantially higher in the next 6-8 weeks.

[Rabbi]

Been BUying more 4.5c either going be a brilliant or stupid move will find out very soon TH anyday

Looks like a brilliant move to me. Once financing has been confirmed, and all the wells are online, the future cashflow looks spectacularly good. Only risk is the possibility of
a recession and the oil price tanking, but I venture to say they could hedge the greater proportion of their production.
Still looks cheap by any metrics or analysis of future projected cashflow.

[boysy]

Yes those cashflows look particularly good going forward you have to wonder at what stage will this be reflected in the SP. Looking forward this is currently trading a < 2x PE assuming they hit their 5000 BOEPD target based on current prices.

The Co is very different now to simply having three wells and one find in the GOM. This time next year we should have income from four different fields (3x SM 71 Wells, 2x Lightning wells, 1 or 2 from GC21 and Mustang with potential further finds from the Hilcorp drilling programme).

I suspect if the large holder who wanted out has excited the supply on the sale side could dry up going forward and a bit of FOMO might start to creep into the SP.

[boysy]

Big volume today, seems someone wanted in and were willing to pay ...

[Rabbi]

Big volume today, seems someone wanted in and were willing to pay ...

Yes, seems a bit strange considering there is no news from the Talitha well in Alaska. Definitely speeding ticket material- please explain blah.blah.blah.
Insider trading. Never!:ohmy:

[Rabbi]

Market ReleaseApr 8, 2021 OTTO ENERGY LIMITEDSecurity Code: OELPause in TradingTrading in the securities of the entity will be temporarily paused pending a further announcement.

Well we will soon be enlightened

[Rabbi]

Otto Energy Limited (ASX :OE L) (the Company) requests its securities are placed in a trading halt with immediate effect on 8April2021 pending a response to a Price and Volume Query received from ASX.

Speeding ticket so it will be interesting to see what lame reason the company comes up with. Should take them until Monday to think up something
that couldt be interpreted as credible.

[boysy]

Otto Energy Limited (ASX :OE L) (the Company) requests its securities are placed in a trading halt with immediate effect on 8April2021 pending a response to a Price and Volume Query received from ASX.

Speeding ticket so it will be interesting to see what lame reason the company comes up with. Should take them until Monday to think up something
that couldt be interpreted as credible.


Lets see what PANR release tonight, it looked like it was ready to run a fair bit further - only have to look at 88E to see what reddit craze can do when they have drilled what appears to be a very average well ....

[Rabbi]

Last release was Tuesday 06/04

Jay Cheatham, CEO of Pantheon Resources, said:"Flow testing at Kuparuk to date is further encouraging news for Pantheon - a case of 'so far, so good'. Now that we have finally beguntesting, the weather won't have as severe an impact. We are flaring gas as the well cleans up and we would then expect oil to follow. As hasbeen well documented, we have had operational difficulties drilling the Kuparuk in this well, but future well design should ensure theseissues aren't repeated. However, we had to persevere; it was simply too good a target."If successful, the Kuparuk would be of enormous value to Pantheon considering its location adjoining the Trans Alaska Pipeline and DaltonHighway. Our pre-drill resource estimate for the Kuparuk horizon alone was 1.4 billion barrels of oil in place with 341 million barrels ofrecoverable oil. We will leave the wellbore in perfect condition to come back next winter and test the shallower four zones, all of whichencountered hydrocarbons.The next testing operation will not require any drilling and can be tested using a low cost work over rig.""Despite this encouraging news, as always I caution shareholders that we must wait for completion of testing before we can draw anydefinitive conclusions about the well. Until then, we remain cautiously optimistic."

Alot of oil in place so we see how she flows.in one zone and flow test the rest next season..

[boysy]

Bring on the outcome of the Kuparuk flow testing - likely a binary outcome through you would imagine with the flow testing well over a week and a half they would know if it was a dud early ...... PANR webinar scheduled for Tuesday afternoon UK time (Wednesday morning NZ time) we should know more.

[Rabbi]

19 April, 2021
Pantheon Resources plc

Operational update, Talitha #A well


Pantheon Resources plc ("Pantheon" or the "Company"), the AIM-quoted oil and gas exploration Company with a 100% working interest in projects spanning c.160,000 acres covered by 3D seismic and advantageously located adjacent to transportation and pipeline infrastructure on the Alaska North Slope, provides the following update following the conclusion of operations at the Talitha #A well:
Talitha #A well - conclusion of operations and overview
Operations at the Talitha #A well have concluded with the well suspended for future testing operations. The well encountered five stacked, independent oil-bearing reservoir zones over a 3700 ft interval which management believes has validated its earlier assertion of over 1 billion barrels recoverable oil potential from this multi-billion barrel oil in place play at Talitha. Testing of the deepest of these zones, the Kuparuk formation, which flowed high-quality light oil intermittently at rates up to 100 BOPD, a disappointing rate, encountered a number of operational issues. The Kuparuk horizon at this location was overpressured which was both unexpected and unlike any known Kuparuk well regionally, which caused challenges in testing. The four normally pressured shallower zones, all of which encountered light oil and offer excellent potential based upon analysis to date, will be tested in a future program.

The Company collected an enormous amount of drilling, logging and testing data which will be evaluated. Additionally, Pantheon has engaged the experts at Baker Hughes and Advanced Hydrocarbon Stratigraphy ("AHS") to provide Volatile Analysis Service ("VAS"), a comprehensive, sophisticated and independent evaluation of hydrocarbon presence in the well bore, using mass spectrometry analysis of well cuttings. Pantheon also used conventional data collection techniques including 'Logging While Drilling', mud logging, side wall cores and an entire suite of wireline logs. Baker Hughes AHS identified five independent highly prospective zones with high oil saturations and low or moderate water saturations. These correlate directly to Pantheon's five target zones.

Comprehensive analysis of the VAS and wireline data from these zones over the forthcoming months will enable the Company to fully optimize its testing program for next season, as well as enabling lengthier flow tests.

Update on testing of the Kuparuk horizon

The Kuparuk proved more geologically complex than expected. The well encountered ± 60 ft of well-developed sand with high resistivity readings, indicating the presence of hydrocarbons, independently confirmed by VAS. Talitha #A demonstrated the key elements of a proven hydrocarbon system in the Kuparuk formation with the presence of movable high-quality (± 42° API) oil, however during testing the well-produced oil intermittently along with solution gas, with formation water fresher than anticipated. These flow rates were not consistent with our expectation based on Talitha logs compared to nearby Kuparuk field production.

A comprehensive analysis of the Kuparuk, supported by third party experts, has already commenced to gain a greater understanding of the atypical reservoir characteristics encountered. Based upon analysis to date, the Kuparuk very much remains a viable target on the Company's acreage. Early analysis suggests that the Kuparuk horizon at this location might respond better to different drilling fluids and techniques, however ultimate recoveries may be lower than originally estimated. This work is just starting, and a formal conclusion will be reported when completed.

Well Strategy

The Talitha #A well location was selected as the optimal location for the shallower Shelf Margin Deltaic horizon, the primary target of the well. The Kuparuk at this location is some 800 ft downdip from its ideal 'updip' position and was a secondary target.

Our technical team prioritised testing the Kuparuk formation and ultimately recommended deferring plans to test the shallower horizon during this drilling season because the well logs of the Kuparuk indicated much better developed reservoir than at Pipeline State #1, comparable to those in highly productive nearby Kuparuk fields. Based upon the well logs (and regional comparatives), the associated disappointing flow rates, were a surprise.

"So that zone did not flow and the other zones are on the back burner until next season and we are left hanging, although they were positive about the other zones.Both Pantheon and Otto share prices
trashed immediately which only goes to show the impatience and short term focus of most investors."

[Rabbi]

Good buying opportunity for those who like a punt but they have to find more oil and well, finding oil is expensive and they really
don't have the money. New CEO seems to favour consolidation and keeping onside with the bankers. Big positive is the price of oil
which hit Brent $67 overnight.
What they can't have is another capital raise because they have run out of this option far too many shares on issue now.
Somewhere along the line got too grandiose and ambitious. I note with some horror and dismay that Buru energy is having a cash issue.
They have grandiose plans in the Canning basin but that is another story and another thread.

[boysy]

OEL starting to tick upwards but still plenty of room to run .... based on near term production it could have its current MC in cash alone within 12 months. on a EV basis alone looking very cheap based on any key metric

[boysy]

Huge volume today and fresh 3 year highs will be interesting to see where this gets to over the next few trading sessions