Too be honest GO old buddy, it doesn't even phase me. Albers...

Too be honest GO old buddy, it doesn't even phase me. Albers knows whats hes doing. The fabulous thing about Octanex is the companies philosphy.

Exploration and Investment Philosophy

1. Be an entry point for investment in high quality international scale opportunities;
2. Acquire large permits with low obligations in geologically prospective areas but with corporate transformational potential and clear pathways to commercialisation (e.g. Taranaki Basin);
3. Acquire known resources with development potential (e.g. Cornea);
4. Acquire strategic investment opportunities with strong growth potential (e.g. Central Petroleum with its whole of basin approach to gas and coal seam gas plays);
5. Conduct initial exploration (seismic data acquisition etc.) on own account (e.g. Winchester);
6. Focus on risk reduction and avoid direct funding of high risk, expensive drilling obligations;
7. Farm out to substantial industry participants with the expertise to assess high value opportunities with development potential (e.g. farmout to OMV/ENI and the scope in the Exmouth Plateau for multiple giant and super giant gas fields).

Unlike MOG, Albers does not plan on using OXX liquid assets for wells, unless they are minor interests like Cornea. He doesn't need to attract fund managers they will come running once the OMV/ENI program is in full swing. When the Winchester data room is open (if the prospect is viable) thats when the real fun begins. Why?

Not only is Winchester a multi-TCF prospect, but it has potential to be rich in condensate. Wilcox-1 reported 66-79 barrels of condensate per mmcf. Then it has its advantages of being close to infrastructure and future infrastrucutre. Not to mention the future demand for gas.

Albers has done the leg work, Big Oil will handle it from here. More than happy to have exposure to OXX, all the while knowing it will probably remain undervalued by the market. That is until Gigantor is better defined and drilling begins. Don't be surprised to see OMV/ENI claiming Gigantor is a 10 TCF+ prospect after the 3D.

Come December GO, if market conditions do not worsen, it would not be far fetched to expect OXX to be sitting at $1. We know Gigantor will be drilled next year and potentially Winchester. Come August 2010 we will also know if Shell is going to move in for the kill in 2011 on those Exmouth Sub-basin permits.