Ophir oil permit is a 50% interest. That has to be something that is tradable, but Im not sure how the Malaysian govt would view that and whether OXX would gain further permits if they were to sell out.
The recent award was probably quite important for OXX in their marketing for new permits.
The recent 20% fall in oil price is partially cushioned by the fall in AUD, but its only very partial.
There wont be too much oil exploration happening if the oil price falls to $70 - 80, which is quite on the cards.
At least OXX has one excellent gas permit with 100% interest and here in Aust. That was good risk management.
PKO Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
