Seeking Alpha on OAS

Prospectus at time of IPO.

This is how others see Oasis.

For newbies, comparison with BEXP is a bit more speculative than a comparison with other companies would have been:

BEXP champions 24-hour flowback for reporting their initial production numbers, and as a result, has the highest decline rate.

BEXP is one of the few operators in the North Dakota Bakken that has not increased the number of its rigs despite being one of the most vocally optimistic of these operators.

Other comments:

Acreage controlled by Oasis has been less than stellar in the past, and much of it was obtained from MDU/Fidelity which has had a very poor track record for oil in the North Dakota Bakken.

I do agree that the potential for any operator is huge, however, in the Bakken. Most analysts value the producers based on two pay zones (the Middle Bakken and the Three Fork Sanish group). In fact, there are about 20 pay zones in North Dakota, but not all are in the same location.

It is not uncommon for a company that "exhausts" one formation, to simply move the bore well up a 100 feet to the next pay zone.

In addition, there is more and more talk of huge natural gas deposits below the Bakken.

The fact that Oasis has no debt is very, very impressive in this highly-capitalized sector.

June 18, 2010: Oasis had a first good day. Offering was $14. Was up to $15.40 the full first day. Nice move.