pressure released, page-14

danger

Welcome on board. With due respect I hardly think that Geoff's strategy with Shell regarding commitments is 'Brilliant' rather 'bleeding obvious' or simply 'common sense'.
Notwithstanding over the years Geoff has cut some very good deals for OXX leading up to the position that we are in now with significant interests in three drills, two in progress and one upcoming, all free carried.
This is causing minor interest in OXX (as always largely off the 'radar'), and a significant move up in SP from it's lows of 14 cents odd only a short time ago.

I would caution followers of OXX though, of any 'irrational exuberance'. In my experience in the O & G industry, (especially lately), disappointment is the order of the day and while we hope for the best, is statistically the likely outcome of both these holes currently being drilled. That is 'Dusters' Don't you love those "Plugged and abandoned" announcements that seem all too common. If that were the case then things would be looking 'pretty skinny' with only Makutu coming up. And behind Makutu, at the moment the cupboard is looking very bare. It can be a long time between drinks! So if you look back over my OXX posts, (I have been a shareholder since 2003 when it floated on the NSX at 10c, almost exactly 10yrs) you will see that I have largely been a fan and supporter of OXX but make no mistake if these current drills come to nothing which is statistically the case then it will be a very 'sorry looking OXX'. The guts will drop out of the SP and turnover will be ZERO. For the holders of the OXXCB options (which I also hold) there will be a painful 10c call as well.
However.
We dare to dream.
Best of luck.