Not sure it will go the way you guys think. With the capex nearly halved, the fee for development (presumably a fixed $ price) will be a larger % of the outlay. Petronas may decide to use its pre emptive rights to buy out the jv company.
Either way, I'm thinking a fair price for OXX atm is 8 to 9 cents.
On another note, am expecting to see Ascalon retention declaration very soon. Pressure still building on Wickham Pt partners, they need to arrange backfill gas soon.
OXX Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
