OBL - Oil Basins - Aussie Stock Forums

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  1. #1

    Default OBL - Oil Basins

    Hey guys,

    Another Oil speccie thats been on my watchlist for some time

    They may show some life in a couple of weeks with upcoming drilling

    Very very spec so not for the faint hearted and as always DYOR
    Note: I am not a Financial Adviser, nor are any of my posts intended to be financial advice, they merely express my own opinions

  2. #2
    gfresh's Avatar
    Join Date
    Jun 2007
    Brisbane, QLD

    Default Re: OBL - Oil Basins

    Have held for a few weeks now..

    Farm in on Bass Straight VIC P/41 with 12.5% option (drilling not expected to next year), and has farm in (up to 20%) with ARQ on Backreef prospect in Canning (drilling current, or next quarter).

    Market cap just over $3M presently, can only go up from here.

    Team sounds like it has some good experience.

    On 7 May 2008, OBL advised the ASX that OBL’s expert team of consultants (the former ExxonMobil regional geological and geophysical team) had completed their pioneering assessment of the Kimberley Downs Embayment feature located within the Blina Back Reef Play Joint Venture Area (Figure 3) using, what we believe is for the first time in the Canning Basin, the application of the latest 3D exploration techniques PSTM, PSDM and seismic processing and inversion techniques. This new work has delineated a ‘new reservoir play’ entirely situated within the Kimberley Downs Embayment.

  3. #3
    Hatchet Moderator doctorj's Avatar
    Join Date
    Jan 2005

    Default Re: OBL - Oil Basins

    Backreef is interesting, but beware of cap raising between now and then to fund it.

    If you're another 'Canning Believer', check out Hawk (backdoor for NSE).

  4. #4

    Default Re: OBL - Oil Basins

    Will be interesting to see how the CBO funding goes and how quickly they can get the $3M minimum funding. Wish I took up a few more in the last cap raising.

  5. #5

    Default Re: OBL - Oil Basins

    Hello, debut post

    Whats your thoughts on this share? its running around like crazy.

    Regarding this - "late March Oil Basins (OBL) announced to the market that it had become the designated 'operator' on its prospective JV tenement in the Canning Basin in WA."

    I'm thinking of jumping in atm at 5.5 cents, i hope i'm not to late.

    And outta pure pure hope, it heading towards the 10 cents mark

  6. #6

    Default Re: OBL - Oil Basins

    Hmm, it seems that someone knew somthing was coming...
    Anyone here got any idea, or did i just miss something?

  7. #7

    Default Re: OBL - Oil Basins

    They just released an Independent Expert's Report that looks quite interesting given their small market cap.

  8. #8
    Mod: Call me Dendrobranchiata prawn_86's Avatar
    Join Date
    May 2007
    Los Angeles
    Blog Entries

    Default Re: OBL - Oil Basins

    Quote Originally Posted by grants View Post
    They just released an Independent Expert's Report that looks quite interesting given their small market cap.
    Any insights as to what the report contains? Highligts et cetera? The more details in posts the more discussion it will generate

  9. #9

    Default Re: OBL - Oil Basins

    Can't post links as yet....

    From the report:
    The prime recommendation of this report is that Oil Basins persist with their
    objective to explore for, develop and produce hydrocarbons of a nonconventional
    origin from their Canning Basin acreage. Their innovative ideas of
    CSG and/or shale gas production in this basin should be pursued. Their
    consideration of gas to synthetic crude oil synthesis is capable of unlocking a
    potential large scale undiscovered resource in an area of energy shortage and
    with proposed export facilities nearby. Third party access to facilities is
    established. Liquid hydrocarbons command a premium over gas and are more
    readily economically transportable and more readily saleable. Ready local and,
    probably, export markets exist for liquids in this time of oil shortage and high

    The major conclusions of this report are:-
    Oil Basins Limited’s Canning Basin acreage is prospective for hydrocarbons,
    either reservoired conventionally or non-conventionally.
    The organic rich shales of the Goldwyer, Gogo, Laurel, lower Anderson
    Formations and Winifred Formation of the Grant Group of the Canning Basin
    sequence are established rich mature source rocks and they have sourced
    several oil and a gas accumulation in within the Fitzroy Sub-basin.
    The widespread sub-bituminous coal seams of the basal Lightjack Formation of
    the Permian aged Liveringa Group are prospective for coal bed methane
    In addition to the established conventional source intervals listed above the
    organic rich Permian aged Noonkanbah Formation exhibits excellent shale gas
    potential, as do the traditional source intervals. The Noonkanbah Formation
    appears to be in the early mature window in The Fitzroy Trough in general and
    Oil Basins’ tenements in particularly. However more analytical geochemical work
    is required to establish thermal maturity of the various potential shale gas source
    The Noonkanbah Formation is likely to be productive of “‘wet” or condensate rich
    gas in most of the area of Oil Basins’ tenements. Some of previously mentioned
    source intervals are also.
    These tight carbonaceous shales are not traditional reservoir units as they lack
    both porosity and permeability. However given the brittle nature of these units
    and the high organic content along with adsorbed trapped gas they could be
    ideal candidates for hydraulic fracture stimulation and horizontal wells to produce
    a potentially large hydrocarbon accumulation.
    If the Company’s exploration programs, either aimed at CSG or shale gas, are
    successful the sheer size of target resource could enable the construction of a
    large scale GTL plant. Recent feasibility studies, conducted for other operators,
    suggest that these processes are economic at the current oil price. However the
    economic viability of this process is volume dependent.
    Ready markets exist for the sale of liquids and to a lesser extent gas, and other
    petrochemical by-products.
    Oil Basins have a very innovative and elegant proposal to utilize a potential but
    as yet undiscovered resource of large magnitude in a remote location in an area
    of insatiate energy demand.
    The company has a substantial acreage position in the Fitzroy Sub-basin, the
    most prospective and least remote of the Canning Basin’s sub-basins and will
    have significant production from it if their exploration programs are fruitful.
    The Fitzroy Sub-basin and the company’s acreage are sparsely explored and
    potential exists for large discoveries of hydrocarbons either of a conventional or
    non-conventional nature.

    The report is much too long to give justice with a few quotes from it but if any one of several sites are successful (or taken over) there looks like good leverage to me. The numbers look pretty good for a company with only $5M market cap in my opinion.

    I've just bought a modest amount based on pure speculation. They seem to have a better chance than some.

  10. #10

    Default Re: OBL - Oil Basins

    Hey guys,

    I'm still pretty new to trading and i was just wondering if one of you guys could explain to me why the release of an 'appendix' like the one today would result in 13% increase in share price?

    I had a look through the document and it just looks like they were able to raise some capital by issuing shares at a reasonable discount to market prices, and i'm not quite sure why that is considered a positive sign.


  11. #11

    Default Re: OBL - Oil Basins

    Trading halt today... Interesting... Stock @ 6.6c, up from about 4c a month ago. Anyone else watching or a holder of these?

  12. #12

    Join Date
    Oct 2009
    near the beach

    Default Re: OBL - Oil Basins

    Liquified Natural Gas (LNG), has entered a Strategic Alliance Agreement with OBL to investigate the development of an lng project in NW Australia in the Kimberley and the Canning basin.


    I hold LNG

  13. #13

    Default Re: OBL - Oil Basins

    OBL is looking very interesting. About to spud, probable announcement tomorrow on that. It is a high risk but High reward play. Keep an eye on it.

  14. #14

    Default Re: OBL - Oil Basins

    Yes I have my eye on it!

    Good volumes and nice increase in price.

    They seem to have a lot of prospects, not just the one starting now. I'm keeping my fingers crossed!

  15. #15

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