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OEL, OTTO ENERGY LIMITED
Brierley
post Posted: Oct 24 2017, 07:40 PM
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In Reply To: Lan's post @ Jul 1 2016, 09:08 AM

Primed to run again imo.
Cashed up for several firm exploration and development wells.

 
Lan
post Posted: Jul 1 2016, 09:08 AM
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In Reply To: rozz's post @ Apr 22 2016, 03:49 PM


I note this stock was recommended in a recent PPP newsletter, so hopefully things will look up.


 
rozz
post Posted: Apr 22 2016, 03:49 PM
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In Reply To: Brierley's post @ Mar 2 2015, 02:13 PM

Oel back on watch list as of today.

 
Brierley
post Posted: Mar 2 2015, 02:13 PM
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Looks like OEL are now fully carried for the drilling of Hawkeye-1 with a rig available for drilling in early Q3 2015

QUOTE
This farm-in, along with the US$24.5m funding committed by BHP Billiton and the expression of interest received in January 2015 from PNOC-EC for a further 15% working interest, ensures that Otto is fully funded and has mitigated significant financial risk associated with the drilling of Hawkeye-1......
......Otto Energy Investments Ltd (a 100% subsidiary of Otto and Operator of SC55) (OEIL) has entered into a Letter of Intent with Maersk Drilling to secure the Maersk Venturer ultra-deepwater drillship to drill the Hawkeye-1 exploration well.......
......All required long lead items have now been procured and stored in yards in Labuan, Malaysia. Drilling of Hawkeye-1 is expected to commence in Q3 2015


http://www.ottoenergy.com/IRM/Company/Show...rofIntentSigned

 
Brierley
post Posted: Jan 14 2015, 01:22 PM
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In Reply To: mercury's post @ Jan 14 2015, 01:03 PM

Yeah, its reasonably priced atm.

The post Galoc sale cash balance adjustment of 10cps is nice, but with no more revenue that cash will gradually be run down in admin/exploration costs that may or may not produce anything.

Near term we might get a 1-2c pop on completion of the Hawkeye farmout. ie if OEL are free carried for ~50% interest in a USD50mil well, that's a transaction value to OEL of USD$25mil, or realisation of the BHP USD24.5m drilling funds is another way of looking at it.

Otherwise, we wait for Tanzania drilling Q3 15 for some punter interest to return.

 
mercury
post Posted: Jan 14 2015, 01:03 PM
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In Reply To: Brierley's post @ Jan 14 2015, 12:46 PM

Yes I saw that the money to the buyer of Galoc was not mentioned as an additional piece of info. to the general public. ...just to keep everybody on track. Seems that the stock is not really undervalued by much as present day share price.

What we really need is another buyer, and that is most unlikely given the POO.

What I would like is a dividend with some franking credits. Surely this company has a few handfuls of franking credits.




Thanks for your follow up info. Not much changed from 3 months ago....and the company still has other assets, though I have no idea of their worth in today's climate.










Merc




 


Brierley
post Posted: Jan 14 2015, 12:46 PM
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In Reply To: mercury's post @ Jan 14 2015, 06:51 AM

Merc

The pro forma cash balance @ 30-06-2014 is USD115.735,000
Refer here

I took that figure and subtracted the actual Sept/Dec admin/expltn costs and the estimated Mar qtr admin/expltn costs.

Then apply an FX rate of 0.82 and divide by shares on issue.

The Galoc production revenue goes to NDO from 01-07-14

 
mercury
post Posted: Jan 14 2015, 06:51 AM
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In Reply To: Brierley's post @ Jan 13 2015, 10:44 AM

Brierly,

How did you arrive at 10cps cash post sale adjustments.....??? ..like to see your calcs.

thanks

Merc




 
Brierley
post Posted: Jan 13 2015, 10:44 AM
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In Reply To: Brierley's post @ Dec 12 2014, 01:33 PM

Still holding. One of the best performing oilers (sp) in the last 6 months, ie, it didn't go down 20-50%.

Shareholder vote Jan 20 to approve NDO's USD108m bid for Galoc. Quite notable that they're paying USD32/brl for 2P reserves in the ground while Goldmans etc are calling USD40/brl for WTI crude.
Post Galoc sale adjustments, I reckon OEL will finish the quarter with ~10cps cash.

Still a chance for another bid, possibly at the company level, but not holding my breath.

Looks like SC55 will get drilled. PNOC took a 15% stake. One or two more partners for another 15-25% should do it.

 
Brierley
post Posted: Dec 12 2014, 01:33 PM
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In Reply To: Brierley's post @ Sep 22 2014, 12:38 PM

QUOTE
With Risco paying OEL the equivalent of 10cps for Galoc, there's now minimal downside to take a punt on the SC55 farmout outcome which should be known soon.


BCP through their 80% owned NDO have today outbid Kuwait Petroleum (Risco) for OEL's Galoc asset
Todays bid equates to ~11cps cash.

The original Risco bid set back in July 2014 valued Galoc offshore 2P developed reserves at USD30/brl
Todays bid inches that up to USD32/brl. Interesting, in light of the current rout on POO
Obviously they're looking at a medium/long term POO higher than todays USD60-65/brl. More like USD75-80/brl I imagine.

Happy to keep holding as the farmout for SC55 is still a possibility given the attractive terms on offer from BHP's USD24.5m funding, and the industries outlook on POO demonstated in this latest bid.
Also a reasonable case for an all out TO bid, imo.

 
 


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