re: this stock looks@@sandune
Spoke with the head Geo for Cooper Basin. He thinks early july for Cooper drilling. I thought Moby 2 might be mid year but I see BAS have reserved the Ocean Patriot for Sept 05. So don't know if this slot is for Moby 2 or if they have an earlier option which they have not yet exercised for Moby 2. Agree with sandune weakness is only a result of recent issue and as I have followed this stock for years the pattern is it will take off when drilling starts. Management are as confident as they can be in oil search.They have the experience, great prospective ground, heaps of money (a lot of it mine) and quite a few opportunities 7 holes at least to strike decent money. These are all the ingredients needed to get good sp support for a junior oiler. As I mentioned previously BAS have completed the 3D over the Moby gas field and Moby 2 alone could produce a cash flow (EBR 25%). The results on the size of Moby 2 (as a result of 3D) should be out about now-watch for BAS announcement. This alone might spark some action. Buy and hold is the sentiment from all quarters and I agree fc.
EBR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
