Consensus Loss -$.07

[Tree]

Shorts will hammer us Monday!!

[jft310]

Shorts will hammer us Monday!!

just legal expenses this quarter could earn plus 20 cents

[ArtM72]

Sure haven't had any drilling expenses. Actually, IOC crews are out doing seismics on OSH's dime. Maybe they aren't generating a lot of cash but they certainly aren't generating expenses.

Didn't we have a partner that paid us a bunch of cash and was going to start drilling around Triceratops this year? Complete silence from that sector tells me PPL 237 is in play with XOM. Might not play out, but that's about the only reason I can figure NOTHING is being done there by PRE or IOC other than running seismics for OSH.

The one bummer for me is how tired and unhappy a number of the directors looked going into their meetings before the AGM. They did not project "happy" body language. Since then of course we've had it confirmed by XOM all of the major issues have been agreed upon in the deal. Methinks Duma is the problem, refuses to get on board and fosters discontent among the locals. There is some reason why O'Neill though has yet to can him. You have to wonder why.

[admin]

["Didn't we have a partner that paid us a bunch of cash and was going to start drilling around Triceratops this year? Complete silence from that sector tells me PPL 237 is in play with XOM."]

Yea, you might have a point there, Art. It's indeed curious, why aren't we drilling in PPL 237?! If it's not in play there shouldn't be a reason for not progressing, unless there is something I don't know.

[Getitrt2]

PRE was not planning to start drilling PPL 237 until the third quarter at least, and I don't think they would want to start until they have the seismics currently being done, and maybe not until the XOM deal is completed as well.

I think exploration planning may be a topic in the conference call.

[Putncalls]

["Didn't we have a partner that paid us a bunch of cash and was going to start drilling around Triceratops this year? Complete silence from that sector tells me PPL 237 is in play with XOM."] Yea, you might have a point there, Art. It's indeed curious, why aren't we drilling in PPL 237?! If it's not in play there shouldn't be a reason for not progressing, unless there is something I don't know.

I do not see the point in drilling until things can get monitized.

[admin]

["Didn't we have a partner that paid us a bunch of cash and was going to start drilling around Triceratops this year? Complete silence from that sector tells me PPL 237 is in play with XOM."] Yea, you might have a point there, Art. It's indeed curious, why aren't we drilling in PPL 237?! If it's not in play there shouldn't be a reason for not progressing, unless there is something I don't know.

I do not see the point in drilling until things can get monitized.

I do, it's a question of "build and they will come..."

[Hoosier1]

I do, it's a question of "build and they will come..."

Agree...

I also think continued drilling shows a reasonable sense of independence/strength..."

[Tree]

I do, it's a question of "build and they will come..."

Agree...

I also think continued drilling shows a reasonable sense of independence/strength..."

Need to close the deals prior to burning cash finding more 'stranded' gas. SD  and SPA and Farm-ins will fully fund drilling and in meantime seismic/planning continue.  To drill now would not be best use of capital.  Shareholders do not fund drilling except for the few which are also drilling partners, some on this MB. Many here vent frustration and want drilling now. How would you like to also be a working guy smaller drilling partner chipping in 20$ thousand 4 times a year already and also fund wells the company does not need yet?

Best advice is to trust the guys with the knowledge and experience to choose the times to drill .  You can rest assured they would like nothing better but the time needs to be right.

[Palm]

As well the government must drop the flag for a well to be drilled. They in the end will punt in their share of drilling costs and they want finalization of how gas will be used. No different than the past. They ultimately say "go" or "no".