Not to sure of why you disapprove of Albers Good Oil, but I am a fan. Albers currently holds approximately 110 million shares and 20.5 million options. Since OXX listed on the NSX, Albers has made sure that OXX lived up to its exploration and investment philosphy.
Exploration and Investment Philosophy
Be an entry point for investment in high quality international scale opportunities; Acquire large permits with low obligations in geologically prospective areas but with corporate transformational potential and clear pathways to commercialisation (e.g. Taranaki Basin); Acquire known resources with development potential (e.g. Cornea); Acquire strategic investment opportunities with strong growth potential (e.g. Central Petroleum with its whole of basin approach to gas and coal seam gas plays); Conduct initial exploration (seismic data acquisition etc.) on own account (e.g. Winchester); Focus on risk reduction and avoid direct funding of high risk, expensive drilling obligations; Farm out to substantial industry participants with the expertise to assess high value opportunities with development potential (e.g. farmout to OMV/ENI and the scope in the Exmouth Plateau for multiple giant and super giant gas fields).
By being very business savy Albers has been able to develop tenements and fulfill permit obligations via farm-outs and in the process generate cash via the sale of acreage. His investment in both CUE and CTP I view as very sound, a lot of growth potential in both. OIP and BBP are suspect investments, but at the time Albers had a lot of free cash floating around in OXX after the BHP/Apache asset sale and then the sale of the Exmouth Sub-basin permits to Shell.
Quite a few resources that quote Octanex as Albers number one company and thats exactly what it is. Happy to join Albers on this one, upside enormous and interest will grow next year with strong news flow regarding Winchester, Shell and 3D/drill location.
OXX Price at posting:
40.0¢ Sentiment: LT Buy Disclosure: Held
