Do like this and I agree long term could be very rewarding!
Interesting names at the bottom of this taken from the article??
More recently Octanex has moved onshore in a variation from its long held offshore permit acquisition strategy. It will acquire a 25% in the Derby Block in the Canning Basin from Oil Basins once that lease is formally granted. The grant is now a matter of completing the paper work given the WA regulatory authority has offered the lease and all appeals against the grant have been dismissed. The Derby Block is an attractive asset which had previously interested Fortescue Metal’s Twiggy Forrest and Buru Energy.
Also this would be sweet!!
It is probably too much to hope that the recent profit announcement could result in another special dividend though the company did say when making a 4 cents distribution in 2011 that it still had over $7 million in franking credits which had more value in the hands of shareholders than the company. And which “the Company hopes to pass on to shareholders” (media release of 12 December 2011). Well maybe!"
OXX Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
