Looking at the resources defined in the ESG announcement (attached to OIP's announcement) its apparent that despite limited drilling a large part of the Prospective Resource is in PEL 427. This has to be the Bellata Trough coals ... so the Edgeroi extension from PEL 238. This would have both Bohena and Hoskisson seams .. much more prospective and valuable than those thus far defined by drilling. The CR is now 243 PJ across all 3 leases but there is 2,458 PJ in PR in just PEL 427 of which OIP has 25% = 614PJ. Once the above targets are drilled mid-year in PEL 427 there's a good chance of OIP's CR increasing dramatically.
H
OIP Price at posting:
5.2¢ Sentiment: LT Buy Disclosure: Held
