clearing the decks

The annual report from OXX is quite informative. It basically confirms the goss re Winchester being sub commercial at this stage although it does spell out the opportunity (and likelihood) of substantial deeper gas along with further satelite deposits within the lease. Wouldn't be surprised to see oneof the players up there (WPL?) buy in as several pipelines are close by and with further drilling, it would make good commercial sense to them I think. The Matuku prospect and general NZ lease positions are also laid out quite well, after a couple of swings and misses, am left wondering when OXX's boat will come in. Matuku has a strong COS but this is drilling so no guarantees. OXX's strategy of entering high risk / high reward areas, value adding then diluting is very clever but you need deep pockets and big kahunas. Albers has that, unfortunately its his shareholders that are a bit weak at the knees at times.