TSXV:OOI.H - Post by User
Comment by
skyhi0on Jun 25, 2012 12:10pm
219 Views
Post# 20051550
RE: RE: Siesmic
RE: RE: Siesmic they are still on track if you read their reports. They had guided for end of June siesmic and drilling by fall. It is true they could have done both earlier however given current world market jitters and oil prices this is not the best time to gain leverage. many companies with "good news" are finding their share prices falling even in light of positive annoouncements.
Its better to wait until the big picture improves in world equity markets. It almost feels like capitulation now, so that turn could come this week or next in my opinion. Once it is positive again its amazing how quickly investors will get back in the markets looking for an opportunity. The need for a quick gain will make OOI the right place to invest especially if the timing of their drill programs are right.
Remember why you are in oil anyway. Short world supplies amidst rising demand long term. That has not gone away and the price wars between the Saudis and the other producers is simply exagerated because of current world markets.
Imagine how it will sound in the fall when our discovery will be a nearby supply for Asia when oil prices are rising and consumption is rising world wide...?