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OXX

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5.26%

3.6¢ octanex limited

Bit confused with this one. Is OXX receiving a royalty type...

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sle

7,430 Posts.

58

21/05/17

16:52

Post #: 24820689
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Originally posted by tui ↑

Crackity.,
as you know this is a stock run by a very able senior oil man. he plays a patient game and has adjusted his strategy to look for producers with a little bit left for a bit of a fling at retaining permits that could florish later. His first card is this new Ophir drill which will give the company cash flow. It is not a big deal but it will give OXX the opportunity to get a lot bigger if the likes of of Ascalon ever get recognised.

I think the Ophir drill will take it north of 15 cents. Jimho. There have been no real trades to test this. It could go a lot higher.

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Bit confused with this one. Is OXX receiving a royalty type payment for the oil obtained from Ophir or are they entitled to a percentage of the oil and if so, exactly how much?

OXX Price at posting: 7.5¢ Sentiment: Buy Disclosure: Held
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