Ann: Quarterly Reports - 30 June 2016-OXX.AX, page-5

Hi Rivermore.
Thanks for the reply. See you also post on FAR which I am donkey deep in and hoping that good news is around the corner there.

Back to OXX

Had all but given up on OXX and has been confined to the bottom drawer for some time.

From page 3 of 2015 Annual Report

"Amongst other matters, Directors are committed to reinvesting a large proportion of their fees in new shares of the Company at a price of $0.10 per share, so this aspect of our outgoings remains largely cash neutral."

Does the exercising of the options, I.E paying the 10c , simply reflect Geoff making good on this statement above, rather than indicate any confidence in the Company. Obviously hard to make any economic sense of when you can buy the heads for 3/4 cents.

Appreciate your comments regarding the Ascalon. Had always thought of it as "stranded gas" of which there is plenty in the world.
"I think you'll be surprised. OXX don't own Ophir". Yes I am. I had thought that OXX were 50% JV partners albeit financed in.
To be honest I have never quite understood what it was that OXX brought to the party?? Is it sumwhat "murky" or have I not been paying enough attention to the reports??

At say $60 per barrel oil do you have any broad brush numbers on what Ophir could be worth in 18months time?
Similarly 3TCF of gas at Ascalon?
Obviously at the moment it is a basket case.
You seem to indicate that all may not be lost with this stock!

Any comments much appreciated and I freely admit that I have not understood Ophir, nor have in depth
knowledge of the gas market. Would Ascalon be a prime candidate to supplement Bayu Undan??