OEL 2.33% 4.2¢ otto energy limited

Hatmopit i agree with your sentiment re very disappointing SP...

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    Hatmopit i agree with your sentiment re very disappointing SP action to date. I just wish to clarify a few of your comments.

    - They have not hedged 80% of production but 80% of PDP production, matt highlighted this point in the call that they are producing at a much higher level i.e at the 2P level. Still plenty of upside here if the POO increases further ....

    What i would like to see is incremental development of proven reserves, it would be great to see OEL participate in F#4 & F#5 in the new year. Future Lightning wells will have a better payback as we are only paying our WI share (35% rather than 50% of well cost as per lightning #1) on all follow up wells. Also the price of gas has seen a fairly sharpe increase of late this impact should be noted in the 4Q results.

    The big bogey of another CR has been removed following confirmation of finance so i think we will find a bottom at or around this level, just goes to show how blowing out the share register has done more harm than the incremental oil they have found as a result of the exploration campaigns. You would hope when cashflow allows it that management get onto a share buy back programme, no point finding oil if the SP keeps fallings.

    Vote no to all resolutions except #2, management need to wake up and understand who they work for. We expect share price appreciation simple as that matt.
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