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5.26%

3.6¢ octanex limited

Interesting conundrum rivermore - agree with your last few posts...

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417 Posts.

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01/10/16

15:04

Post #: 19559582
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Originally posted by rivermore ↑

Yeah, its an unusual deal. Ophir group (OXX plus two others) are being paid a fee to own the facility and produce the oil (which is owned by the Malaysians). I'd like to see some modelling of returns, for ex, does the cap cost being 40% less mean a higher ROR for JV / OXX? The Opex will also be much less due to bottom of barrel pricing for FPSO etc. The whole OXX situation is perplexing, they are capped at A$7.8M? Ascalon should be worth multiples of that by itself (P50 of 3tcf). The Ophir JV has put / call opts to Petronas at rates multiples of current MV. The WA-387-P is just another wildcard asset that is potentially company making. Happy to pick up any cheap stock floating around, it has to have a big rerate at some point (I hope).

Go Western Bulldogs !!!!!!!!!

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Interesting conundrum rivermore - agree with your last few posts BTW and you've covered everything I would discuss.

Which share offers better value at the moment?

The part paid contribs have huge leverage but 10 cents still to pay ( though many owned by Albers companies and not sure he wants to stump up cash at present)

The fully paids are fully paid....

Decisions / decisions!

Best wishes!

OXX Price at posting: 3.5¢ Sentiment: Buy Disclosure: Held
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