OIP went to 20 ahead of drilling in PEL's 427 and 428 and they were real wildcat drills. We also didn't then have the "corporate" interets that i reckon we now have in OIP's leases. This time around we will be drilling two veery prospective large prospects on a number of stacked coals (as best I can ascertain) including Bohena and Hoskisson and others of similar age to the Walloon coal measures. And OIP have said in a their most recent presentation that PEL 6 has 3,500 PJ potential.
I reckon the upside on drilling is to 20 cents and the upside on success is to 40+ after the two drills.
DYOR ... I have!
H
OIP Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
