A bit of hype appears to be creeping into the OXX thread.
We had Beau1976's 'third hand rumour' from a rig crew on 6/1/14 (I was surprised this comment was not moderated). These drill ships don't let 'rumours' get out.
I have also been amused by all the discussion about a lost 5 day with the drilling program and the different speculation about what happened during that period. For all I know one of the theories might be right. Or maybe OXX have endeavoured to put this speculation to rest with one simple sentence in their latest announcement. 'The rig has also had to wait on weather during these operations.'
I think this company has some good prospects down the track but I would just like to add a bit of moderation before the results of Mutuka-1 come in. This drill is the third in line after Palta and Winchester but I don't see any further drilling in the near future if this well is a duster. What will that do to the share price?
Just something to think about.
OXX Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
