akward predicament , page-4

There were around 40 onshore and offshore oil and gas blocks awarded in Myanmar recently. None were awarded to small exploration companies like OXX. All were close to being classified as multinationals.

From the very few people in know in this industry, this is the future direction. Yet OXX continue to pick up exploration permits within Aust / NZ. I think its a combination of 1 being Australian 2 the Aust oil exploration is not highly sort after compared to other locations 3 probable close industry ties of G. Albers and .. Jacobs. Maybe they are highly charismatic. I dont know.

The company badly needs a discovery and juggling 18 exploration permits must be quite an act. I acknowledge they are not the leading hand in many of the exp sites.

If PKOs Cadloe is on hold until say Dec 2014, the next cab off the drilling rank is likely to be PKOs North Sumatras block IMO. With luck OXX can risk managing it via farming out an amount for capital to drill.

I dont see OXX prioritising any other site in front of it. OXX have already picked the most promising sites from within their own portfolio without success.