Australian (ASX) Stock Market Forum

OEX - Oilex Ltd (1 Viewer)

Joined
Sep 19, 2004
Posts
201
Reactions
0
Re: OEX - Oilex

The valuation on page 2 of the Hartley report is 56c. I also notice that they say the WA-388-P well has the potential to add more than 53c if the well is successful. This area has great potential and the likelihood of finding some gas is high. The market is overlooking this and only focussing on teh shale gas assets in India, but this has potential to make the share price really climb as the spud gets closer in 1st qtr next year.
 
Joined
May 2, 2007
Posts
3,405
Reactions
952
Re: OEX - Oilex

The valuation on page 2 of the Hartley report is 56c. I also notice that they say the WA-388-P well has the potential to add more than 53c if the well is successful. This area has great potential and the likelihood of finding some gas is high. The market is overlooking this and only focussing on teh shale gas assets in India, but this has potential to make the share price really climb as the spud gets closer in 1st qtr next year.

thanks Chief Wigam for sharing your observation.

Last night (SUnday) I was discussing lone of my old mates from Toronto who was visiting Perth on his way to India to strike some deals before returning to Toronto.

He mentioned that currently with the use of hydrochloric (HCL) acid to break the shale there are significant environmental concerns. Hence Shale gas assets are not as favourable as it used to be. I should say this gentleman is a resource expert but not even half bottle full on oil and gas.

What are your and others thoughts on this HCL issue and possible impact on OEX shale gas.

Notwithstanding I am putting my mooney on the basis of OEX portfolio and farm in with Apace (the next Woodside) as a long shot .

Cheers
 
Joined
Jun 12, 2009
Posts
18
Reactions
0
Re: OEX - Oilex

Big movement with these shares, up to over .32 today. They have climbed from around 25 last week. :)
 
Joined
May 2, 2007
Posts
3,405
Reactions
952
Re: OEX - Oilex

Big movement with these shares, up to over .32 today. They have climbed from around 25 last week. :)

Not OEX related but wondering how could you got escaped from 100 character restriction in your brief message :confused:
 
Joined
May 2, 2007
Posts
3,405
Reactions
952
Re: OEX - Oilex

My 10 minutes fame to be at the top of tipping ladder looks like going to be over soon. I noticed the company is under trading halt with an equity raise. That could mean the price may drop down once the halt is removed. :banghead:

Hope OEX will do me a favour and follow the AUT and EKA trend by rising above the closing price prevailing at the halt ;)
 

Attachments

  • OEX HALT.pdf
    23.3 KB · Views: 4
Joined
May 2, 2007
Posts
3,405
Reactions
952
Re: OEX - Oilex

Is OEX like collingwood - either you love it or hate it :confused:

Very light postings.

Any way good to see a please explain to OEX. I think the report was good and it is only time.

I am watching my falling position in Stock Tips and hopefully OEX will rise by 31 Dec :D for me to climb up (Kgee and Hang Seng watch your tipping).

Attached the late night ASX please explain response by OEX
 

Attachments

  • OEX SPEEDING 16 DEC 10.pdf
    77.5 KB · Views: 5
Joined
Dec 19, 2010
Posts
3
Reactions
0
Re: OEX - Oilex

Hi, from London..bloody freezing ..loads of snow!!

An exciting time for oilex....

The recent placing of 30mill shares at 20p has been well absorbed.Since these were placed post the Dec 6th presentation , they must have liked what they heard.

http://www.oilex.com.au/index.cfm?objectid=B9405E3B-1372-5CE6-242A10885E378824



The Independent Review for Cambay Reserves is expected in early 2011 followed by the 1st drilling wells.

I'd expect the shares to keep rising as we get closer to that report . Uk investors will get very excited about the Cairn Energy connection and the possible massive reserves at Cambay.

In 2006-2008 when OEX 1st started to drill at Cambay the shares rose to 80p(equiv. in uk is now 23p) . Using North American techniques this time, I'm hopeful that that market will get pretty excited in the build up.

I've been building a large position in OEX at roughly 22p average (clearly well higher than recent lows ) but since news is only a few months away , I reckon the fun has just started as uk investors have been slow to pick up on it. Once they do, it will fly IMO , DYOR.
 
Joined
Sep 7, 2010
Posts
42
Reactions
0
Re: OEX - Oilex

hit 40 cents - resistance line today

neared 42 cents in uk

so hopefully it can push through
 
Joined
Sep 7, 2010
Posts
42
Reactions
0
Re: OEX - Oilex

finished the day at 43 cents up another 10 percent today. up 22.8 percent since start of year
 

prawn_86

Mod: Call me Dendrobranchiata
Joined
May 23, 2007
Posts
6,637
Reactions
5
Re: OEX - Oilex

Absolute1,

Instead of just offering price commentary (which anyone can look up) why not tell us why you think the price is going up? And is this good or bad?

All your posts in this thread have been 1 liners and offer very little for other readers to discuss.

Thanks
 
Joined
Dec 19, 2010
Posts
3
Reactions
0
Re: OEX - Oilex

Well as I posted above, uk investors are now finally taking notice of OEX and the huge potential over the next few months as regards Cambay news. Today the stock is now up 24% on heavy volume to 34.75p.

In 2008 OEX spiked to 80p on drilling at Cambay. Now armed with successful North American Shale techniques, OEX seems better equipped to get commercial reserves out of the ground.
Despite the dilution which has occurred, it should test old highs hopefully which is double the share price from here once the Independent Report on reserves is released in the next month and drilling starts shortly after.
With the current fever in small cap mining and oil shares , this feels like the share to own in 2011 with its massive reserves in place. DYOR, IMO
 
Joined
Jan 6, 2011
Posts
1
Reactions
0
Re: OEX - Oilex / Greetings from USA Florida

Hello all, new to this forum, thought I would throw some info at you folks, (see below)..........

Time to stop "talking the talk".......and start "walking the walk"! Is this already a mis-step??? I'm wondering if drilling will be pushed back a few more months.......between the Indian Directorate General of Hydrocarbons & Oilex, god knows when drilling will start??? I sure hope the drilling gets done before I die.......I'm only 49 and in good health, lets gets this thing cranked-up & fracked soon + have the off-take system (pipes) set to go!!!

Some highlights below.....I'm not a subscriber to: http://www.indianpetro.com/
so I can't provide the full details, sorry.

Snipe

=================================================================

Pilot horizontal well in Cambay by April 2011: Oilex

Jan 24: Aussie E&P major Oilex Australia is expected to launch its freshest drilling programme in the Cambay tight gas project in Gujarat by April 2011. Speaking to Indian Petro News on Monday (January 24, 2011) a senior Oilex official revealed that a pilot horizontal well -- also called concept well -- has been planned in the contract area after March this year. Work on the project is expected to take place along with additional drilling to establish tight Eocene reservoirs in the block, sources added. The operator is expected to secure an onland rig contract shortly with plans to sell natural gas to the local market by the second quarter of 2011. Oilex may employ multi-stage fracture stimulation technology at Cambay to improve flow rates.

8The petroleum ministry has already endorsed a separate proposal made by the operator to revamp its existing Gas Collection Station (GCS) at Cambay. The GCS is going to have an installed capacity to process more than 15,000 barrels of oil per day (bopd) and 3 million standard cubic meters per day (MMSCMD) of natural gas.
8Two wells -- Cambay-74 and Cambay-64 -- are currently producing at an average daily rate of approximately 320 bopd and 1,150 million cubic feet a day (MMCFD) of associated gas. The Cambay-75 well -- with an estimated 5-15 million barrels of oil in place potential resource -- is being added to the current production stream. Oilex has a 45% participatory stake in the Cambay field.

By Sadiq Shaban Details

http://www.indianpetro.com/

=================================================================

Heading: Cambay Field: DGH unhappy with Oilex Ltd's operations
Section: news
Date: 17 Jan, 2011

on Australian E&P major, Oilex Ltd's operations in the Cambay field in the state of Gujarat. Primarily..... for the year 2010-11. 8Oilex had submitted a second revision to the work programme and budget..... 17, 2009. 8It should also be pointed out that Oilex had refused to answer the DGH's communication..... for the Cambay field, which was submitted in October, 2010. 8Pertinently, Oilex Ltd currently..... , in 1995. Oilex farmed in with a 30% stake and then purchased 15% of Niko's stake in the field. (Click

=================================================================

Heading: Oilex scouts for onland rig, concept well by February 2011
Section: news
Date: 03 Jan, 2011

Aussie E&P major Oilex Australia is likely to carry out fresh drilling in the Cambay tight gas project in Gujarat by February 2011. Speaking to Indian Petro News on Friday (January 31, 2010) a reliable Oilex source revealed that plans are currently afoot to drill a conceptual well by early this year..... production stream. Oilex has a 45% participatory stake in the Cambay field. By Sadiq Shaban Backgrounder: Readers would recall that Oilex awarded a Letter of Award (LoA) to commission a new land
 
Joined
Dec 19, 2010
Posts
3
Reactions
0
Re: OEX - Oilex

Supersnipe,
Thanks for those links..any idea when the Independent Reserves Report is coming out ? I reckon should be anytime.
 
Joined
Jun 12, 2009
Posts
18
Reactions
0
Re: OEX - Oilex

11% + increase today, but not really sure of the reason for the big jump. No announcements apart from the roadshow presentation announcement last week. Any ideas to why the big jump today. Not complaining of course.
 
Joined
Jun 30, 2007
Posts
9
Reactions
0
Re: OEX - Oilex

11% + increase today, but not really sure of the reason for the big jump. No announcements apart from the roadshow presentation announcement last week. Any ideas to why the big jump today. Not complaining of course.

The Notice of General Meeting of Shareholders was scheduled for today 7th feb 2011. The relatively large trading volume today can be attributed to people buying in anticipation of an announcement from this meeting. Fingers crossed its good! :)

holding oex at 22.5 cents average.
 
Joined
May 3, 2007
Posts
122
Reactions
0
Re: OEX - Oilex

been holding from 0.28c (that is from 2009!) and rode the dip to > 0.10 and now back up to 0.54+

don't want to see something like MEO happen to OEX, as it's biggest stock (in quantity..and perhaps quality...:D) in my portfolio, but the last time OEX drilled in 2009, they found a duster...so, not sure when the well is to spud in March, but the buying into it is slowly getting stronger.


also, this got posted



Oilex First Half Losses Rise

StockMarketWire.com - Oil and gas explorer and producer Oilex posts an interim after-tax loss of $8.5m - up from $7.1m last time.

The firm said the loss was mainly due to $2.5m incurred on exploration expenditure which largely related to geological studies undertaken in India; a write down of capitalised development assets of $477,754 and share-based payment transactions totalling $2.5m.

Cash and cash equivalents held by the group - which has a diversified portfolio of interests in India, Australia, Timor-Leste and Indonesia - increased by $3.3m to $20.1m - up from $16.8m at the end of June.

The net increase includes the placing in December which raised A$9.5m.



Story provided by StockMarketWire.com

LON:OEX
 
Joined
May 2, 2007
Posts
3,405
Reactions
952
Re: OEX - Oilex

OEX did not move much inspite of an aparent looking bad financial report published today.

When I read the balance sheet I was not too concerned.
Few things made me interested : the financial acid ratio or the ratio between current asset to current liabilities. Fantastic on operating movement
Secondly cash in hand $20 M
Thirdly, the high expense on exploration

I understood in the AGM some people talked with MD and they felt good.

So I will wait and see what strategy comes from board and how market reacts tomorrow.

Good luck holders and that includes me
 

Users who are viewing this thread

Top