Once again OIP is outshining its larger peers (abliet on small volumes). No cappers or short selling here.
With HGO (I sold out yesterday for a little profit); ESG(still hold a little); and MEL (thank goodness I didnt hold) all back in or heading to the doldrums, interest is resuming in OIP. The options are starting to move as well, indicating a possible future above the 30c excercise price.
I think the slow steady build up to the announcement for the JV CSG drilling in Pel 6 is now starting to occur. The days of buy 100K lots at 14c are now sadly (myself and emma could have always bought a few more) behind us. But hey time its time to start sipping the red stripe as one of our fellow posters might say.
The wildcat here is still the oil drilling in Pel 6 that was due soon. No news on the JV partner but with oil now at US$71 there should some extra impetus. My thoughts are they should go it alone and spend the $1-2M, maybe 800k with the GFC discount.
This $23m (about) company is also on a loose tether to ESG and STO if there is any action on that front. Or as some have suggested on here, OIP may be a target on its own.
OIP Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
