http://www.theaustralian.com.au/business/opinion/golden-chance-to...

http://www.theaustralian.com.au/business/opinion/golden-chance-to-end-disconnect-between-the-metal-and-the-equities/story-fnciil7d-1226401684522

Barry FitzGerald
From:The Australian
June 20, 201212:00AM


Ambassador drilling

GIVEN the shake-down in both oil and equity markets, Tino Guglielmo's $16m December float of 20c shares in Cooper Basin explorer Ambassador Oil & Gas is doing well to be trading at the 18.5c a share it closed off at yesterday.

The relative strength of the explorer is simple to explain: Guglielmo ensured it hit the ground running, so much so that it is about to participate in the drilling of two oil wells in the Cooper.

The hope is that success in what are considered low-risk wells will give it a handy cashflow while it chases down the big time gas potential of its wholly owned PEL 570 permit in the Cooper's Patchawarra Trough.