Hi nazzy, 2011 will be a big year for the OXX. JV's with majors, big targets, large holdings of prime real estate, cash in the bank, 20 odd mill worth of investments etc. etc.
Starts with Artemis, we have exposure through CUE/MOG holdings. Then OMV/ENI drill Jan, Gigantor may well live up to its name, high estimate 17.5tcf med-high risk(thats a pretty good risk factor in this game hey). Similar in size to Artemis but hasn't attracted the band of followers, let the drill do the talking. Winchester farmout. Back end of 2011 Shell has commited to drilling in one permit and still has option over two more with DD still being carried out on those. Taranaki Basin permit seismics to be completed, could be very juicy, smack bang in the middle of producing Tui/Maui/Maari/Manaia fields. ETC. ETC. ETC. ETC.
Check out the holding in CUE and what they have on the cards in 2011, potentially the biggest year in their history and we get a free ride :) On completion of RI 5 OXX shares will give you exposure to 1 CUE share. By the end of 2011 our holding in CUE could be worth more than the current MC alone!!!! This is by far the single best O&G junior on the ASX bar none! IMO. Perhaps i am biased but i have researched this company in depth alongside many others and i fail to see better value on a risk/reward basis anywhere else. The best exploration and investment philosophy i have seen in a company of this size low risk/high reward. I have put my $$$$ where my mouth is, OXX has become my biggest holding and i sleep well knowing thats its only going to get bigger (theoretically anyway LOL!)
As far as probability goes, i think the theorems of probability are flawed LOL!!!
OXX Price at posting:
38.0¢ Sentiment: LT Buy Disclosure: Held
