Blinky Agreed, the assets of OIP and GGX are not very exciting. Fr'instance-OIP didn't drill a second well in the Darling (after Nynginderry) because its too risky and expensive and why they couldnt find a partner to come into the Bowen (after Wilaroo). GGX hasn't done anything in the Philippines for a year or two and there are no fields producing on Cebu island. The Canning is crap and France is really expensive and with a lot of risk.
So what's left? Oip's coal seam gas, that's what. If they luck in with good coal seams in the next two coreholes then shareholders will be riding a big share rise. If the coreholes fail, then may as well put the two companies together and let Morton dine out on Oip's cash.
I don't know much about Langusch...has he done anything of note? Interest to hearing how the AGM went but don't expect any new info.
OIP Price at posting:
9.5¢ Sentiment: None Disclosure: Held
