OXX is into development these days with their new business...

OXX is into development these days with their new business strategy. One minute its Cadlao now its the Ophir Cluster being spoken about. Its all about funding exploration and maintaining shareholder value.
Malaysia's oilfield and marine services company Scomi Energy Services Bhd (30%) and joint venture partner Australia's exploration firm Octanex N.L. (50%) might bag a contract from Petroliam Nasional Bhd (Petronas) to develop a marginal oilfield off Terengganu, Malaysia, local newspaper The Star reported Friday. The Ophir cluster, one of 10 marginal oilfields tendered out by Petronas under its third round of risk service contract (RSC) licensing program, is estimated to contain 5.1 million barrels of recoverable oil. Development cost for the project is estimated at $130-$200 million, according to the newspaper. Petronas is expected to announce winners for the third round of RSCs later this month. - See more at: http://www.rigzone.com/news/article.asp?a_id=130912#sthash.C4waDZt1.dpuf- See more at: http://www.rigzone.com/news/article.asp?a_id=130912#sthash.C4waDZt1.dpuf