Originally Posted by
Rabbi
Yes, these prospects are exciting and a company maker for OEL if they strike oil at any one of them. Always seems to be a lot of resistance at around 9.5. A farmin is uncertain enough that I see 15cents+ on confirmation of a farminee, as it can't be factored in.
OEL would have to be is one of the most boring junior oilers to hold but boring can be good, as it tends to conserve cash. If BHP jump on board there is no guarantee they will drill a prospect any time soon as they might take time to review the seismic, then there is rig mobilisation which could take months. Nevetheless, the mere fact one of these elelphants is going to be drilled should create hugh anticipation, speculation, hype, and expectation.
Meanwhile the cash rolls in. (oil $100+) :)