charl - good post maaate. Prompted me to extrapolate on your...

charl - good post maaate.
Prompted me to extrapolate on your thoughts re "The Board is currently reviewing its composition, and will be addressing the structure pending developments at Cambay and an assessment of the optimal skills base required for the Company's future development."

Without being overly conspiratorial, could this also be code in the event of a good/commercial flow result, for bringing on board (BoD) key personal from Magna eg Dr Mike Watts & Ms Browne, with their extensive Indian oil (Cairn) connections & experience?

Or, should Cambay prove unequivically uncommercial (we await the next ann with growing anxiety & bated breath) I think we will be looking at OEX being an entirely different animal going forward with Canning. In which case the extensive Indian oil (Cairn) connections & experience of Dr Watts et al, may be of lesser relevance to the OEX Board. (In such an outcome, it would also bring into question the ongoing commitment of our cornerstone investor, Magna.)

Soooo, my gut feeling is to ask - why would Ron flag this review of board structure, unless it was to open the way to bring in Magna appointments - viz a commercial Cambay result.

My gut also suggests to me that these Magna guys are very savvy and are not in the game of making major investment mistakes regarding their home turf i.e. Cambay. Neither would they be interested in a hobby or sinecure - me perception is that they're opportunistic progressive investors that want to be active cornerstone owners in a growing company with good prospects, not just employees (albeit senior) in a successful major (Cairn).

They know where the 'good oil' is and they want in.

I have no qualms with Magna expertise being engaged and brought to bear on developing Cambay assets, it can only work to benefit us all.

That's my contrib for the day, for what it's worth.

Charles
(now based in tropical Dongfang, Hainan Isl - but soon to return to Oz for the OEX AGM).