How many oil exploration companies have no carried forward losses let along taxable profits inspite of producing ... nothing? Add in the fully franked dividends and in specie distribution of Cue Petroleum shares over the past couple of years. Why on earth would I want to sell? Two of the farmout prospects in NZ are for targets potentially holding hundreds of millions of bbls of oil. Albers has lots of skin in Octanex and he has a long long history of making money. Happy to hold.
OXX Price at posting:
11.5¢ Sentiment: None Disclosure: Held
