IMO,OEX at the moment is not target for TO, down the track it may attract interested parties. Camby field has oil and gas that is for sure. In the short term, the issue is if this well is good commercially. In mid-term, how to fund the further drilling or sell the asset. My general impression over these years with OEX, 1) india was not a good place to do this business, now with newly elected government, this may chage to better. 2) OEX's management is weak one. These people may be good small deal maker but not good hands on operator. There are too many these type of people around but not many good experienced operators. We have to wait to see the results of this well. I feel it may be OK and at least is remote from a disaster.
OEX Price at posting:
16.0¢ Sentiment: None Disclosure: Held
