So maybe 70% based on price; 30% on past performance / and other criteria.
Anyway OXX manage to get these exploration blocks within Aust boundaries ok.
Note if they keep packaging and farming out drilling exploration interest and they also keep coming up with blanks (no oil), that would spell trouble. Q: Why dont the big oil companies just bypass small oil exploration companies? Do small explorers really add much value via their seismic activities? Dont they also just contract that seismic activity out anyway?
Seismic activity is cheaper in the ocean. Set explosives, run sensors through the ocean. On land its more difficult.
Its a business and having a good lawyer at the helm a good thing IMO
PS I still reckon being Aust / NZ company helps.
OXX Price at posting:
21.0¢ Sentiment: None Disclosure: Not Held
