My take on the announcement was of a significant saving on the US90m budgeted for development rather than US90m total spend which only improves metrics again.
Given a satisfactory outcome to the production ramp up, the current oil price and the strength of the usd against aud should see solid income flowing into OXX over time.
Awaiting the first oil lifting this month as another milestone in the Ophir oilfield development.
OXX Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
