initial target 23 to 24 cents, page-9

IMO Orion is an 'all or nothing' play. I wouldn't invest in OIP to merely make 100% return. I would be looking for 500% to 1000% which is what will occur if any of the stated targets are achieved in the coming drilling program.

Having said that, the risks are substantial. It has been argued that there is hardly any downside because the company is valued at cash-backing. In a rotten market like the current one, spec oilers that are viewed as having little chance of success are hammered. For example, Key Petroleum was trading at 7 cents for about one month after Kiliwani-1 was P&A. Kiliwani North was to be spudded within a month, but people just didn't care anymore! At 7 cents per share, the company was trading at half-cash backing...Mkt Cap was $6 million with $12 million cash in the bank. Clearly, a company can be valued at less than cash! So in summary, significant upside and downside potential IMO.

Mudguy.