News: OXX Octanex not granted petroleum retention leases for Ascalon gas discovery, page-34

Weekly drill report is due today and the quarterly next Monday so hopefully that will shed some light. The third producer on Ophir must be nearly complete by now so we are only about one month from first oil. Its been a long journey for all concerned but hopefully, with substantial cash flow from Ophir, it will be a new era for OXX. I'm still convinced there is more to be told re the Ophir sands. They are only saying completion to the J20 sands but the difference in the end depths of the horizontals is way too much. Are there stacked reservoirs at Ophir? I always thought it was a lot of trouble for a three year production window but many Malay basin fields are layered so we could actually have a much longer term asset (and cash generator). The other thing that would be nice to know is how the dramatically reduced capex and opex feeds into the risk / reward calls for Ophir. The agreement rewards both factors but no-one ever envisaged the costs coming down so much.

Am also wondering if there are plans afoot for Cornea, GA has been soaking up any loose shares in ENX for along time now and I'm sure ENX's Cornea equity will end up somewhere else. With the low drill prices at the moment and tens of millions of bbls recoverable, Cornea must be starting to look enticing.