OEL 2.94% 3.5¢ otto energy limited

argentina and sub rig

  1. 65 Posts.
    For my part I have nothing original to add to the discussion re concern over the Argentinean permit but those newer to the stock may find Caliche's HC post of 3/08/07 on OEL (and the source of the extract MDL (again on 3/08/07) of interest.

    In respect of the bare boat charter + submersible rig (and in particular perhaps BlackGolds question/comment yesterday.....

    "Sounds like a soft contract to me, where the rig builder might be dragging their heals because they want more money? Getting your money back for not reaching dead-lines sounds an easy out for the builder? .. Or have I got this total about face?"

    I note that Petroleum News (24/05/07) stated "The company that owns the shipyard building the rig is now Otto's third largest shareholder"

    Assuming this remains the case (or nearly so) I guess this may go someway to explaining OEL's stance ???

    As I said nothing original, just grist to the mill.

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