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In reply to: paulhart on Friday 07/03/08 07:45pm



last annual report events subsequent to balance date + US M $7.5 cash from ENI OMV deal above the AUD M $ 2.5 they already had.


additionally + US M $15 from previous announcement last couple of weeks from Shell deal.


hope this helps.

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From takeovertarget:


Sorry to change the subject but hey if you are on this thread you seriously need to know about this.


It is your interest.


Yo anroo - Octanex just put out announcement to place M1 shares so they can go ASX.


You all should have a read.


Results from OMV / ENI re 2D Siesmic on 11 propsects and others - all new info today.

Some prospects called Gigantor, Skelator, Godzilla to name but three.

These are not names for penny stocks.


gas in place up to 50tcf !!!!!

Yes 50 trillion cubic feet.!!!!


....all free carried too - and Oct has 40% interest.


Get involved - apologies to those who I may be distracting.


Apologies accepted. This Company imo does look very promising! Please do the usual research. :biggrin:

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Well after doing some research on this one the Patterson clients who recently partook in the placement which included a free attaching option are bloody lucky purchasers. This stock as you've pointed out has some serious prospects/holdings and was extremely good buying imo in that recent placement. :biggrin: Noticed there is a small holding on the NSX sub 30 so it'll be interesting to see if they get gobbled up seeming the latest placement without an option is at 30 cents! :biggrin:
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Saved myself just under a grand buying on the NSX rather than partaking in the placement. Stock has me very interested given their cash backing/assets is around 20 to 23 cents per share with options included in that figure but not including option excise amounts which puts it closer to 26-28 cents per share. In theory given where they are etc. this as T/O/T says is worth looking at! Holding. :biggrin:
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they dont need the money so why the 1M share issue ?


rationale for the small Issue

- marketing for a spike on ASX listing to allow existing holders to profit

- pay ASX listing costs - raise $300k - payout $229k

- add some more shareholders


the following typical statement always makes me laugh :biggrin:

Applicants should note that "Prospective Resources" are "those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from undiscovered accumulations"


business model is Permit Farming - they seem to have the deepwater areas


note that sp on the NSX approaching the issue price 30cps - before the 22/9/09 the last trade was 10/8/09 at 16cps


they are all hoping to make a killing on the ASX - 100% profit for the earlybirds


blatant manipulation - but maybe they wont get their stag profit - be a small fish in the ASX sea

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