My first purchase of oppies was around the 3c mark. Averaged...

My first purchase of oppies was around the 3c mark. Averaged down all the way and even averaged
up lately. About to average down again. 1 year till expiry gives a generous amount of wriggle room.
I'm not in the oppies {or the heads anymore for that matter}, awaiting action on the Canning prospect.
The tails would have well & truly expired by then imo. It's 77H or a follow up well that I hope will deliver
the results. Hindsight a lovely thing, could have doubled my $ after the 21/7 ann and bought back double
or the same amount with a free-carry at today's price.

Didn't anticipate the delay after 21/7 {as if!} but I'm buying more now. 8 x leverage seems a good deal
to me at this point in time. If the SP can double on a great result for 77H or if 77H shows enough
promise to execute a bigger and smarter well {with flow rates that we are looking for} then tails should
deliver a 10 bagger. A second well may take until June next year to deliver a result, cutting it fine
with the expiry date. A small cap-raising on the cards if we need to drill a second well to
deliver the results. I still think we have about $3-4m in the bank plus $1m from recently exercised
options plus some small change from oil sales 77H.

Although there have been problems and delays recently, I still like what I see.

GLTAH