Not sure Gaz but I see big sellers queing up in the 9.1/9.2/9.3. Tomorrow we shall see if momentum continues. A similar volume needed for another lift. Biggest volume for more than 6 months.
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News is out re the Duhat-2 well (SC 51). Will be drilled middle of the year next year. OEL having a 80% interest. Depth to 1000m onshore...not an expensive proposition with easy path to commercialisation in case of a discovery. Funded from cashflow....nice. SP down on news but no worries.
Where is BHP re SC55....that would set the SP alight.
Gaz
OEL has a track record of not impressing . Being in a patch where lots could be done , nothing seems to move . And this goes for Nido as well , many experienced oil men have given up . TAP went there and gave it away , with all those opportunities there .
OEL seems to get a hurry up today with quite largish volume. A very nice looking chart.
she's been moving up alright, soulman. i've got all of my fingers crossed that BHP will say, 'we've secured a rig we'll be drilling before August'. i've been in this one for a while, but i'm not extremely overweight - it's possible, just possible that 2013 will be OELs year.
-j
Interesting trading of late have reentered at the 8 cent level it appears as though a bottom of sorts may of occurred will seem very cheap if phase 2 comes on board with no issues even more so if they drill galoc north and it is a success. It seems as though the smaller o and g plays are being slaughtered unnecessarily though a serious production boost combined with 70% of shares tightly held could make this move fast either way.
Bought more sub 8 this week seems too good to be true. Galoc phase 2 drilling a matter of weeks away with production expected to rise from 5k to 12k increasing ottos net production from 1.5k bopd to around 4k bopd. Then we have onshore drilling in the 3rd quarter at San Isidro. Big unknown is sc 55 with bhp using force majeure due to not gaining Sep clearance from Palawan provincial council. Plenty on the books in the next few weeks.