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Ninky

27 Posts.

26/08/14

19:15

Post #: 13875870
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Originally posted by mandurah ↑

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

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Down 30% from its highs. Market doesn't like silence! Gradual decline everyday on LSE? Opinions?

OEX Price at posting: 15.5¢ Sentiment: None Disclosure: Unspecified
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Ridiculous!, page-7

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