I agree with you regarding probability... And got to admit I havnt seen anything quite like this before...
Although OXX seems to be leveraged to so many significant targets that the probability of at least one succeding will no doubt be extremely high...
I always liked CUE over MEO and regret not buying them under 20 cents... OXX offers good unrisked exposure to the Petrobras Artemis play as well as the Woodside drill with CUE next year...
Then there is SHELL wanting a peice of the pie with a drill end of 2011...
And the 2 drills being dropped early next year... All free carried....
So they got heaps of cash... heaps of Super Star JV partners... and excellent leverage to some highly prospective targets...
Not sure how I feel about Albers though.....
Nice exit from CTP by the way... I got out a bit late.. Fortunately only a small loss... Damn Likely Oil Shows...
Nice work...
OXX Price at posting:
39.0¢ Sentiment: None Disclosure: Not Held
