On the price, there's quite a bit of market focus on an oil discovery at the moment, however, from various announcements relating to East Wing there shouldn't be much doubt about gas being produced at the site. Two saturated zones say it all.
On the flip side, if they prove oil is about, then naturally the price will boom - people salivating at many orders of magnitude from where it is now, as if it's and end game unto itself. However, all this is kid stuff compared to the potential of the very big deal ahead.
Few here would know it, but today you can stand in the visible remnants of an ancient petrified rain forest situated on top of Cape Bridgewater, and look out upon this Discovery Bay High they speak of.
That is, millions of years ago the area was jungle, proliferating with life - Todays oil
englfc - seeing you have been around since the company floated in 2001, keep dwelling on that $5 share price. Bearing in mind how much a barrel of oil cost back then, and for comparison, what amount of cash it would deliver today. Better to own the oil, cash is becoming less useful by the day
It's no contest, oil is already one of the great currencies of this century, immune from the price of a tonne of iron ore, and better still, everyone needs it
On the price, there's quite a bit of market focus on an oil...
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