Plenty of time for WCL & BUL, as they shore up certified reserves, & ITC is a minor oiler.
Don't be missing Santa "Monster" Rosa will ya :eek:
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Not impressed with the chances of Santa "Monster" Rosa
Why not, the drills aren't too deep & are onshore.
Initial indications were that the area is an oil hot bed?
There's no quarantee they will find a commercial discovery, but the odds are far better than offshore wildcats.
As for some posters on HC saying the COS is 5%, well they should go & do some basic research! (Stock Analysis* gives a 7% COS, but then again they gave Gazatta a 35% COS!).
* They also calculate a NPV of $US3.68/Mcf from the Turkish gas when we know they will be getting > $US13/Mcf - this shonky reporting is inaccurate & misleading IMO.
For OEL this is simply a low risk v high reward project, & any commercial find will catapult the OEL SP to multiples of where it is now
Hey Shasta,
I noticed this report from the operator- http://www.oromin.com/i/pdf/Santa_Rosa_Final.pdf put the COS at santa rosa @ 12% (pp 50-52). You may have seen that though, as I think it was linked in this thread many pages back.
I haven't looked at OEL before but they look interesting, will have to do some research on them.
I'd put it more like 50/50 they find hydrocarbons
30% they find something commercial
10% they hit pay dirt, a > 50mmbo field
The COS %ages are more akin to deep water offshore wildcats, Santa Rosa is on shore, not too deep & in a renouned oil area!
I doubt OEL's SP would even fall if Santa Rosa is a duster...
The market hardly knows about the project!
OEL breaking through 8c at the moment (approx up 10%)
Around 5m volume in the first 2 hours, this is higher than the normal volume, ie last week not one day had 5m+ turnover
Buy depth nearly 2:1 - haven't seen this in a while either
Ann due?
Today's SP action should show a break above the 30 & 90 day ma
The close today above 7.5c, should set up tomorrow nicely
http://www.directbroking.co.nz/cgi-b...=&ind=RSI&ra=2
OEL - Drilling Update
http://www.stocknessmonster.com/news...E=ASX&N=453628
Plain english would be good when announcing drill results, i presume the SP drop is in relation to the poor sub-commercial flow rates in the
Kuzey Ikihoyuk‐1 exploration well
Very short term focus IMO, especially when the Santa Rosa drill is in progress.
Need funds elsewhere at present or i'd be topping up on OEL
Here's a new risk for offshore oilers...
WEATHER & TYPHOONS!!!!!
http://www.stocknessmonster.com/news...E=ASX&N=453996
I've never known a producing field to be offline so frequently!!!
I'm really starting to wonder what i'm doing in OEL...
Santa "Monster" Rosa had better pay off!