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Re: Mainecoons post# 34047

Friday, 03/17/2006 12:46:55 PM

Friday, March 17, 2006 12:46:55 PM

Post# of 363206
Mainecoons: Welcome to the board. If you're nuts, so am I. For the short time, you've done quite well in assessing the situation. The JDA wants to fast track. The biggest impediment right now is the shortage of rigs/resources for bringing it to production. Deepwater also takes longer, so probably about 3 years to actual production. However, proven reserves will be much sooner, since that only takes a drill rig, and cvx may have already given us the jump on reserves. Long term, expect Offor to leverage the JDZ and STP EEZ assets to become a serious PanAfrican oil company, starting in Nigeria and then expanding. IMO this is a keeper. I expect dividends in 3 to 5 years in excess of the current share price. I can wait and retire on that.