I think the feeling is that OIP have had all this cash in the bank and all we have got in the wings is the 2 CSG wells which are funded and managed by ESG and OIP was not intended to have a CSG focus.
The guys that put together ESG have extensive experience in oil and gas and the OIP leases have real potential for conventional oil and gas over and above their CSG potential but there has been two fifths of buggar all done in trying to prove this by the old board.
As one of the previous posts mentioned, it would be a lot better for all of us if the money was spent on drilling and we had a find than for the share to sit on NTA and wait for it to disappear.
Ergo, I think they will ramp up the drilling program and attempt to hit a target sooner rather than later, something the old board was reluctant to do.
Of further interest would be the discussed corporate activity, OIP is in the envious position of having cash where others have none and it may be a great time to seize some more potential assets at cheap prices, this is what I am hoping will happen.
OIP Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
