OEX or TAP for an oiler?

[DVEOUS]

Hi all

I'd like to add an oiler to my portfolio.
Looking at either Oilex or Tap.

TAP appears to have regained almost 50% of its SP since 2007 peak.
On the other hand, OEX has recovered less than 20%.
OEX are (from what I've researched) expected to announce (soonish) that some drilling rig has been acquired.

OEX has done quite nicely in the last week, so I'm concerned it's a bit overpriced as of today, before any anticipated news of rig & drilling schedule.

The chart shows OEX was in a downtrend before the GFC hit last year. Is this a worry?

Of these two, which one would you buy into, and why.
Is there a compelling reason not to touch either?
Only want to hold for a few months, at most.

TAP: Black line
OEX: Red line

 

[tasmanian]

If I had to make a choice definetely OEX.

Chart looks better but they both look ok to tell u the truth.I might even get some OEX in the near future.Ill keep an eye on it and see what happens

cheers

 

[YELNATS]

If I had to make a choice definetely OEX.

Chart looks better but they both look ok to tell u the truth.I might even get some OEX in the near future.Ill keep an eye on it and see what happens

cheers

What about ROC or, dare I say it, AED? ROC has had a nice recovery this week, up nearly 10%.

 

[tasmanian]

What about ROC or, dare I say it, AED? ROC has had a nice recovery this week, up nearly 10%.

Well he asked for for either OEX or Tap so I just gave my opinion on those 2.

Ill check out the others over the weekend

 

[DVEOUS]

What about ROC or, dare I say it, AED? ROC has had a nice recovery this week, up nearly 10%.

I did have AED on my watchlist up until a few weeks ago, when I came to the conclusion it is a basket case.

OK on ROC, hadn't thought of that one, so will watch that too.

 

[Annwn]

Both charts look OK

OEX - Recently broken upwards from a symetrical triangle,
currently trading above 200 day EMA

There has been a definate increase in Vol since April this year, ? accumulation or distribution
Trading up 140% since lows of Oct 08
Support at .30

TAP - Has been trading steadily upwards - 106% since lows of July 09, Vol has decreased during this time.
Still below 200 day EMA

On a r/r ratio, OEX would be the one for me, with more potential to the previous highs of 1.70 - 1.80 Dec 07, although both have quite strong resistance levels

Both charts are weekly, as give better perspective of where stocks have come from

Cheers

 

[bugmenot]

I have spent the last few days researching resource stocks and OEX is definitely one of the few remaining undervalued gems IMO. Especially with the rumours of an oil rig on the streets of Perth, plus survey results coming out in the next couple of months. That graph shows the massive potential up-side. I bought in at 31 last week.

 

[Nero64]

Oilex is an explorer and is buring cash fast. A Capital raising is not off the cards.

Tap is a producer. Has a strong cash position and an income and assets to match plus it is undervalued.

Oilex might look undervalued on a chart but if oil stays at $70 per barrel then speculation is all you have.

AED might seem a basket case but it has the cash thanks to the Sinopec interest to fund its day to day interests. It has recently formed a consolidation low on the charts with some wic forming candles and increasing volume and might be ready for a move up.

 

[DVEOUS]

Oilex is an explorer and is buring cash fast. A Capital raising is not off the cards.

Yes, this was my main reservation with Oilex.
With current cash burn of approx $7.6M per quarter, and around $12.6M cash in bank, there is only 12 months of cash left... assuming some cost cutting can be made along the way.

Cash in bank represents less than $0.08 per share, and what significant assets do they have?
This means there is already quite a premium built into their SP.

I am using figures from the Q1 report, back in April 2009.
Can't find the Q2 report, aside from an "Operations Report"... strange... everyone else has released theirs.

There is probably more potential gain to be made with OEX, compared to TAP... but what's new about risk vs gain!

 

[tarlox]

My understanding is that Oilex is a "producer" and "explorer". Oil is being produced in India. Refer attached:

http://www.oilex.com.au/files/09Jun30 Quarterly Report Ops Review final1.pdf

Can any one comment further on this?

 

[noirua]

My understanding is that Oilex is a "producer" and "explorer". Oil is being produced in India. Refer attached:

http://www.oilex.com.au/files/09Jun30 Quarterly Report Ops Review final1.pdf

Can any one comment further on this?

Unfortunately it's taken over eight years to get a reply and the company is very much a gamblers paradise these days and mostly traded on the UK's AIM market. Priced on ASX at 0.5c - 0.6c.
http://www.oilex.com.au

Cambay Field, Gujarat: http://www.oilex.com.au/projects/india/cambay-field
Bhandut Field, India: http://www.oilex.com.au/projects/india/bhandut-field

News: http://www.oilex.com.au/investor-information/news

 

[noirua]

Update and information so far: https://www.sharesmagazine.co.uk/shares/share/OEX

As will be noticed, Oilex is still mired in the courts in India. The reason the shares remain a gamble.