First we need to see 50c for Cue!!Any number of those senarios.I...

First we need to see 50c for Cue!!

Any number of those senarios.

I have no doubt that the options will be exercised pretty much irrespective of the price. OXX is so hard to get hold of and most of the options holders know that the current thinly traded price (.275) has little relation to the the value of OXX with a little luck.
Current SP is only value of cash and holdings.

Only 5c to pay at the end of the year to hold the options.

OMV/ENI are going to drill. OXX free carried 20% two wells if I remember correctly.

Winchester and Shell would be a bonus.

As I have said before:
Gas at a value of 50c mcf in ground, which is commonly used means that a TCF to OXX
would be valued at 500m :- 150m = > $3.00 per share disregarding other cash/ holdings etc.

Gigantor alone (forget about all the other prospects)has the potential to deliver that to OXX and it will be drilled
in 2011, probably the first half. Remember OMV/ENI are no bunnies. They have spent a lot of money on this. OXX all free carried.
Interesting to see that only now is CUE getting noticed and some attention. OXX is not even anywhere near the radar yet.
Interesting little oiler though.