RE: RE: OXC spend 65 million $ Wasit province Defintely good news that Oryx petroluem are being heavily funded in the tune of $250 million to start drilling for heavy oil in Wasit province. Should put us well and truly on the map for future financing which will be required going forward.
Personally I think we sold our stake too cheaply to Geopetrol and they have got a great deal i.e 40% of potential huge license agreement for $10 million which incl funding for 3 drills. Now it's obvious whats holding us back, that is the new provincial committe formation and getting the rig into saladin.
We should be at least compared favourably with Oryx and hopefully Richard is using this as a momentum drive with brokers to push up our SP based on potential revenue. At least at 8cents anyone getting in early could have a ten bagger quite easily in a 3 year period.
Only problem is and we are 'all aware of it' is that it's still just alot of NOISE until we some some much needed action from our CEO !!