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Just an observation when watching the buy/sell depth during the day.


When the sell side gets light someone has been putting 200,000 to 300,000 on the sell bid pretty consistently in the last few weeks.


I could be wrong and it just might be a number of small sellers getting out.

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  • 2 weeks later...
The latest presentation looks very good. Still got $24m to spend on exploration. Oil discovery projected to be the early path to commercialisation. The preso is worth a look. Should make you feel happy merc. R/Di
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Not much interest in these little oilers at the moment, but i bought a few last week. At these prices cant see to much downside risk but with a few positive results from this round of drilling could induce a bit of an upwards trend.


More interested in the secondary conventional oil target, could result in fairly early establishment of cashflow and fund further exploration.

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according to previous ann. Katherine one has 7.9 b oil in place

Is this considered 100% recoverable?


This is supposed to cover expenses in the future but to be trucked out (no pipeline ). So I wonder if they will need more than CNOC's 24 milion that is still to be spent...and their cash....and the options that will expire in Sept. I expect that these options may be , in part, what is suppressing the share price. 146 million options at 10 cts is a lot.


I notice that the company execs got about 60+ million performance shares for free, awhile back. Rather generous....

I wonder if they will exercise their 10ct options?



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I think that 7.9 billion bo might be for their shale oil, without looking it up. In the US the usual recovery percentage is 5 to 10% for shale oil.


The conventional oil in place is 206 million bo at Katherine, which should have a higher recovery factor than the shale oil. Still need a bit of work to get P1 and P2 figures.


Hunter they didnt get any flow rates at Katherine due to damage to the resevoir by the drilling.

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