Good analysis as usual. Frankly I can't see OIP making a go of it independently on its oil assets and with fairly small farmed-down CSG rights are they going to be able to raise cash again after 3 oil well "dusters" since floating??? With both my OIP and ESG shareholder hats on I reckon the best result would be a merger with ESG but after PEL 6 CSG drilling and a substantial rerating to > 40 cents (and after ESG reserves upgrade so that ESG dilution is less for a scrip offer) .. particularly of the CSG assets. The oil assets (like Toenda and the prospects in the darling leases) could be perhaps sold off or farmed out.
H
OIP Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held
