OEX

[woomera]

OEX with a new CEO & well cashed up (A$10m in bank) will start to announce new deals after they tidy up the recent train wreck.Good value at under 35c in my opinion.

Best wishes

Woomera[}:)]

[woomera]

OEX has now reached 30c & my short term target of 35c is in sight.

The new CEO led the team that discovered a billion barrel field at Rajasthan India last year... the WORLD'S BIGGEST OIL Discovery in 2004.

Now at Oilex & suitably festooned in options, can he do it again for himself & for OEX shareholders? Word of his plans very soon.

Best wishes

Woomera[}:)]

[yogi-in-oz]

:)

Hi folks,

OEX ..... spotlight should be on this one,
over the next week:

19-25072005

Will be alert for company news and/or price
moves, until 25072005.

Would like to see OEX bounce off the lows,
around 17.5 ..... ???

happy days

yogi

:)

[yogi-in-oz]

:) :) :) :) :)

Hi folks,

OEX ..... soooo good to get this one in on
time, as well ..... it has been languishing
on its lows, for a long while .....

..... now, a breakout and right on time, too ... !~!

happy days

yogi

P.S. ..... holding OEX.

:) :) :) :) :)

[yogi-in-oz]

:) :) :) :) :)


Hi folks,

OEX ..... ticking up nicely now ..... :)


happy days

yogi

:) :) :) :) :)

[roget]

ASX released Today re Cambay. All sewn up and finance ready to go. Could be interesting next week

[woomera]

Oilex (OEX) could be the share of the year.

Cambay, low-risk development drilling could be a company maker & Oman & Otway provide massive upside, all for a company with a very low number of shares on issue.

good trading all

Woomera[}:)]

[roget]

W, has run a bit hard for my liking, trebled in a short time. They are working an old field (albeit a proven one) and that has risks. Good luck to holders.

[woomera]

OEX followers

Cambay-72....drilling report due on Monday.... likely to be positive or very positive.

I am even more certain that Oilex (OEX) could be the share of the year.

Cambay will provide the cashflow for high impact exploration drilling in India, Oman, offshore Australia & Timor Este.

Onshore Australia passed to BOW for shares.

Best wishes

Woomera[}:)]

[woomera]

OEX followers or watchers

Well the news from India has been very positive so far. If the testing goes well it could be a contender for share of the year as I have suggested in the past few months.

Testing in October means that there still is a lot of upside for those who get in now (if expectations are met or exceeded).

Good luck all

Woomera
[}:)]

[laurie]

Rising from the ashes :D past now history

cheers laurie

[woomera]

OEXers or Watchers

Get ready for the weekly drilling report on Cambay-71 on Monday & perhaps further news on Cambay-72 which had very good log results. A further sp rise seems very likely as Oilex (OEX) has held up well as the price of oil has declined.

Of course the flow testing will tell the tale & it still could go wrong but it would have to be odds on to produce a significant gas resource from here & a reasonable chance of a worthwhile oil resource.

Good luck all
Woomera[}:)]

[woomera]

Cambay update due this morning.

It is likely to be positive or very positive.

Share price will react positively or very positively in respect of this lowly capitalised & tightly held stock.

Good trading all

Woomera[}:)]

[woomera]

OEX followers

It looks like the market has decided to wait until the results of the flow testing at Cambay & the price has stabilised at c A$1.25, but as everything is going according to plan so far, this is very cautious in the extreme. Results confirming even the P90 reserves at Cambay will see a share price of several multiples from here.

I consider there is only a tiny chance of two dud (<1%) or inconclusive (<5%)wells from from C72 & C71.
We'll see next month one way or the other.
Regards all
Woomera[}:)]

[yogi-in-oz]

:)

Hi folks,

OEX .... will be alert for a strong rally,
around 06-10112006 ..... :)

happy days

yogi

:)

[woomera]

OEX followers

I recommend the Oilex quarterly (just out)for your attention.

It can only be read as a company on the up. Full of company making plans, with an international perspective.

Best wishes all

Woomera[}:)]

[woomera]

OEXers & traders & wildcatters

Monday 12th Feb should see the crucial testing report for the Eocene horizons at Cambay India which has been flowing oil & gas.A flow of <100 bopd (after stimulation),although possibly commercial, would see the sp retreat imo. A good flow (after stimulation) of perhaps 200 bopd should see the sp make more upward progress & a great result of 500+ bopd COULD see a feeding frenzy for this stock.
I feel that this is (nearly) a one way bet as it was the shallower Oligocene strata that was the primary target & indications of hydrocarbons there are still to be tested if the eocene disappoints.
Good trading all.
woomera
[}:)]

[woomera]

OEXers & traders & wildcatters

cambay-72: a result of 70 barrels per day was reasonable for a poorly developed reservoir IMO & Oilex are confident of further wells at the EPIV level to achieve better rates of oil production. The market seems reasonably content & has stabilised awaiting a test of the primary Oligocene target. Here I am looking for at least 200bopd & hope for more as oil shows during drilling & wireline logging were positive.

I hold
Good luck

[Huang Chung]

The Hartley's report, dated 16 April 2007, on the Oilex website makes for some interesting reading.....

I'm in! [8D]

[woomera]

All

How many oil explorers of a comparable size are about to embark on a multi-well programme in three different countries with operator status in all but one?

Not many if any.

Indonesia (one firm well), India (two firm & up to three optional wells & more when another rig arrives) & Oman (three firm & up to eight more optional wells).

A very exciting junior oiler with big ambitions.

Best wishes all
woomera

[woomera]

All

Drilling underway in Indonesia & India. Oman drilling to start next month.

It looks like the Indonesian drilling news is good if the share price & volume spike of the last couple of days is considered.

Indian drilling is low risk & Oman propects are very large.

This company COULD be the next big thing... Let's see what the drilling bit tells us.

Best wishes all
woomera

[woomera]

oilers


I think Oilex have a commercial oil field in Indonesia after the DST-3 results indicate a maximum flow potential of 1285 barrels a day.

good trading

woomera

[woomera]

All

Indonesia Pendalian-3 DST-4 max 86 barrels of oil per day (possible producer)

India Cambay (appraisal) drilling with new rig mid december.

Oman three high impact eploration wells drilling starts next month.

Lots of progress


good luck

woomera

[COLIN]

Market reacted well to today's news, about the latest drilling results ("first oil flow to surface in Cambay-19Z and the first oil flow from this zone in the entire Cambay block").
Woomera: Are you still a faithful follower? Is this news significant or not? Seems like it could be a precursor for greater things in this area, this being the first oil show there, but I am not knowledgable enough to judge.
Company has majority Indian ownership and control, with operations spread over several countries. Share price has been on a long downward slope - could today's recovery be the start of the turnround? (I realise that that sounds like a novice investor's type of question, but I am a novice when it comes to this company, having only just stumbled across it.)

[Crypto Crude]

Colin,
I only just spotted OEX two days ago, I Knew nothing about it until the day before it spiked.... I have much more to research on this before I could make recommendations... Looks like two developing projects with near term revenues and Oman which is a prolific region... Some mighty large targets and continous drilling....
Large cash reserves...
This would have to be a serious play before I put it infront of CUE...
Still probably wont invest in either...
Interesting company though... I will now have this on my watch list, have semi gone off it so early in the day since its spike today... Hartleys has valuation report on OEX website with valuing at $3.18... Fat Prophets has report also... go check them out... interesting read..
later...
:cool:
.^sc

[woomera]

Colin

Yes I am a fan of this company. The recent basal sand discovery has great potential to add the current estimate of 48mbo & 304 bcf gas estimated resource in place from just two other zones.(OS-II & EP-IV). 45% of cambay is owned by Oilex & these figures can be valued alone at in excess of the current sp.
In addition there is a near-term oil deveopment in Indonesia & very exciting exploration exploration in Oman Block 52 (where figures of billions of barrels of oil potential have been suggested). In the East Timor/Australia joint area there has been a recent oil discovery in an adjacent block.
Oilex is cashed up with $40m in the bank & is operator for most of the permits & with mostly large Indian companies as partners. (Incidently Oilex is not majority Indian controlled. It is owned by largely Australian & UK instos as far as I can see).

Woomera

[COLIN]

Shrewdie and Woomera: Thanks for your posts. I'll continue to keep it on my watchlist and try to dig deeper. I will be mostly out of easy reach of computer facilities over the next 3 months, due to overseas travels, but will try and grab every opportunity I can to sneak visits to the Sharetrader site - I find it informative, entertaining, stimulating - what more can a senior citizen want!
Cheers!

[shasta]

Shrewdie and Woomera: Thanks for your posts. I'll continue to keep it on my watchlist and try to dig deeper. I will be mostly out of easy reach of computer facilities over the next 3 months, due to overseas travels, but will try and grab every opportunity I can to sneak visits to the Sharetrader site - I find it informative, entertaining, stimulating - what more can a senior citizen want!
Cheers!

OEX - Update on Oman & India operations...

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=420255

Interesting company, i'm keeping an eye on them ;)

[shasta]

OEX - Update on Oman & India operations...

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=420255

Interesting company, i'm keeping an eye on them ;)

OEX - Oman & India Update

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=420963

[shasta]

OEX - Oman & India Update

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=420963

OEX - Oman & India Update

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=421751

[shasta]

OEX - Oman & India Update

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=421751

OEX - Update in Oman

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=424329

OEX is an up& coming O&G company well worth keeping an eye on...;)

[shasta]

OEX - Update in Oman

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=424329

OEX is an up& coming O&G company well worth keeping an eye on...;)

OEX - India Oil potential (estimates of 500 - 1000 bopd!)

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=424505

[shasta]

OEX - India Oil potential (estimates of 500 - 1000 bopd!)

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=424505

OEX - Oil shows in Cambay field India (choked back to 250 bopd)

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=425192

[whirly]

On my watchlist. Good news coming from OEX look out if theres a recovery any time soon in oil price. Heres a link to "Hartleys Report on Oilex - Cambay About to Pay Off" (http://www.oilex.com.au/index.cfm?objectid=4219F4FE-E7F2-2F96-32C6237C82272404)

Download the PDF its a full analysis with a buy rec and price forecast of $3.41.

Currently at 65c

w

[whirly]

OEX - 2008 AGM Summary and Outlook - Mr Bruce McCarthy, Managing Director
http://www.brr.com.au/event/54181

i like this company even more @33c and the good news keeps coming...Oilex Announces Oil Zones Encountered in Al Jumd-1 Well, Oman http://www.youroilandgasnews.com/oilex+announces+oil+zones+encountered+in+al+jumd-1+well,+oman_18447.html

what am I missing guys n gals? yr thoughts might save Whirly from spending his interest chq on this and instead can buy that new guitar I wanted.

[JBmurc]

Anyone holding 18c atm hit a low of 16.5c was a $1+ this time last year oversold??

[shasta]

Anyone holding 18c atm hit a low of 16.5c was a $1+ this time last year oversold??

http://www.stocknessmonster.com/news-item?S=OEX&E=ASX&N=446154

That explains it, but your right seems oversold & a harsh drop.

I've kept an eye on OEX for a while, they have some meaty valuations on them

[JBmurc]

Ended up buying a few at 17c hopefully pay-off with a decent short-term bounce
Got a nice pile of cash stashed away ,think the market only values their production an assets at under 20mill now

[JBmurc]

Huntleys lastest

http://www.oilex.com.au/files/09May08%20Hartleys%20Research%20Note.pdf

[ronthepom]

Huntleys lastest

http://www.oilex.com.au/files/09May08%20Hartleys%20Research%20Note.pdf

Still holding oex JB i see gone into trading halt.

[airedale]

Hi Ron, maybe I should have listened the last time that you mentioned it on the VPE page.:o

[ronthepom]

Hi Ron, maybe I should have listened the last time that you mentioned it on the VPE page.:o

Hi Gordon,

got it from my usual source.

[bermuda]

I remember OEX well. In my early days about 6-7 years ago i remember coming home from work and getting a 3 bagger in one day. Couldn't believe it. I dont understand why they let their BOW shareholding slip away.

[Corporate]

Anyone still following OEX?

Just spent 10mins reading the AGM presentation and listening to the latest BRR presentation.

Markets cap of $36m with approximately $20min cash in the bank, no debt.

Free carried on the current lolotoe well targeting gross p50 recoverable reserves of 90mmboe

[Crypto Crude]

hey Corporate,
I havnt looked deep into OEX, but I have a few thoughts...
OEX's production stage activities have turned out to be much smaller than we thought, or were lead to believe...
Over the years Timor sea wells (as a region) have come in with thin sands that have not been oil bearing, and the wells with discoveries have been uneconomical because of thin sands...
also, the current well is not such a big target...

and OEX can spend it up...
bad boi style...
it wasnt long ago they had 50 million bucks in the kitty...

who knows, there could be something in this...
I cant be bothered searching to find out...
too many other little pretties around to care...

you just never know when it comes to explor drilling...
they could hit, or they could ...............
.....................................
..................
........
spend the kitty trying to find out...
hehehehe...
what fun that would be...
:cool:
.^sc

[upside_umop]

Took a position for a play trade, may move on the break of 18c, the supply and demand appears favorable.

AA

your back aa...good to see you.

i also bought some a few weeks ago as a little play on this drill. they got dumped on the last dry drill...but downside shouldnt be too much. they seem to have consolidated around a base 16-18...as you say, a breakout would be good. can i ask though, why didnt you wait until the breakout was confirmed..you know, you being t.a. and all. is that the meaning of a 'play trade?'

[boysy]

we should be due for an announcement anytime now if they dont hit commercial hydrocarbons i expect some rather significant panic selling. Could be some good buying if they fair to find hydrocarbons watch thisspace.

[COLJAY]

Yes. Should have reached total depth by now. Apparently they are more confident with this one after the last duster.

[boysy]

still the chance of success must still be very low could be some good buying in the next few days

[boysy]

looks like it is panning out like the first well could be a good buy over the next few weeks if commercial hc are not found though one has to question how long the cash they have will last .

[boysy]

long time no post oex fallen from high of around 40 cents pre timor drills to 8.5 cents now. An interesting play cash backing is around 100% .

MC - 18.7 million @ 8.5 cents
cash at 31/03/2010 $18.2 million

Could be an interesting play if they can get an outcome from West Kampar where they are seeking some US$4.5 million moneys owed to develop the Pendalian oil field. Plenty more detail in the latest quarterly .
http://www.asx.com.au/asxpdf/20100429/pdf/31q1564f1sz2h9.pdf

they have a few other exciting prospects worth a look they havent had success in a while

[boysy]

not so sure about the quality of reporting calling oilex a major is a bit of a big callhttp://130.94.72.105/home.do

June 13: Aussie E&P major Oilex Australia operating in the Indian state of Gujarat shall begin appraising fresh areas of the Cambay basin block as part of its work programme beginning next month. Senior level petroleum ministry sources told Indian Petro News that the operator is launching the latest appraisal drilling -- in fresh areas of the block -- around the middle of July 2010. Several major untested plays in the prospective block are likely to be explored, sources confirmed. The ministry has already accorded its approval to the proposal which includes enhancing recoveries from untapped areas to commercial rates. Oilex has slotted two intervals -- Eocene and OS II -- where appraisal is likely to get underway. Both intervals have evidence of substantial in-place wet gas resources needed to support the proposed Cambay gas project.
8Oilex also wants to establish the commercial viability of oil and gas production from a number of zones identified in its previous drilling campaign. In a related development the petroleum ministry endorsed a proposal 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 and 3 million standard cubic meters per day of natural gas.
8Two wells -- Cambay-74 and Cambay-64 -- are currently producing at an average daily rate of approximately 320 barrels of oil per day (BOPD) and 1,150 million cubic feet a day (MMCFD) of associated gas. The Cambay-75 -- with an estimated 5-15 million barrels of oil in place potential resource -- is being added to the current production stream. By Sadiq Shaban Details

[boysy]

looks like it will close at an all time low today currently around 7.7 cents now if it does it should close under cashbacking of $0.079 to $0.08

MC 220,000,000 *0.077 = $16.94 million

Cash backing in quarterly as of 31/03 $18.2 mill with cash outlays of 0.9 mill for the quarter

[James.Anderson]

Didnt they make a Net Income of $-49.8M last year ??

[boysy]

Hence why the sp has dropped from high of $1.60 a few years back to todays intra day low of $0.077 approach with caution they know how to blow money but one would hope management would put the remaining resources into the most promising prospect.

[boysy]

Carnarvon drilling decision imminent: Oilex

Marija Stojkovic
Friday, 18 June 2010

OILEX is close to making a decision on whether to proceed to drill on its WA-388-P permit in Western Australia’s Carnarvon Basin.



The Songa Mercur

Speaking to PetroleumNews.net, finance director Ben Clube said work on 3D seismic interpretation was nearing completion and the joint venture was on track to make a decision on whether to proceed with drilling in a “matter of weeks.”

In October 2008, Oilex as operator of WA-388-P, completed a 1500 square kilometre 3D seismic survey over its permit and part of Cue Energy’s WA-389-P. Since then, detailed work on the data has been ongoing.

Clube said the early indications from the seismic had been promising but obviously the JV would need to fully complete the interpretation before making a decision.

WA-388-P lies to the north of the North Rankin, Goodwin and Perseus gas and condensate fields currently being produced by the North West Shelf Venture. The field is also near the large Jansz/IO discovery.

The company has previously said any discoveries in the permit greater than 1 trillion cubic feet could provide feedstock for either Woodside’s Pluto project, Chevron’s Wheatstone project or the North West Shelf.

Oilex is operator and holds a 14% interest in the permit. Other partners include Sasol Petroleum Australia (30%), GSPC (14%), Videocon (14%), Hindustan Petroleum Corporation (14%) and Bharart Petroleum Corporation (14%).

In other company news, Clube said the JPDA 06-103 joint venture in the Timor Sea was discussing the forward work program in the permit.

Last year Oilex, as operator of JPDA 06-103 drilled two wells, Lore-1 and Lolotoe-1. Both wells were plugged and abandoned after logs confirmed there were no zones of significant hydrocarbons.

“Following on from the two unsuccessful wells, those well results needed to be incorporated into the technical understanding of the block and that’s taken a bit of time to do – it’s been quite an in-depth exercise,” Clube said.

“Those results have been presented to the joint venture and the joint venture is discussing what the next best step is for evaluating the block.”

According to the company, more than 20 further prospects remain in JPDA 06-103 with the potential to host significant oil reserves.

Most of the remaining prospects are located to the north of, and have different geological characteristics in varying degrees to, the structures drilled by the Lore-1 and Lolotoe-1 wells – the two easternmost of the prospects identified in the southern part of the permit.

Oilex holds a 10% stake in JPDA 06-103 which is near several production fields as well as Eni’s recent Kitan oil discovery which is under development.

Other partners in the permit include Global Energy, Gujarat State Petroleum, Bharat PetroResources, Japan Energy and Pan Pacific Petroleum.

Looking overseas, Clube told PNN the company was increasingly focusing its efforts in India.

Oilex’s major asset in India is the Cambay field. The field lies in the Cambay Basin in Gujarat and is producing small to moderate volumes of oil.

“The company is undertaking some technical studies on its major asset in India called Cambay. Those studies have been ongoing for some time and they are nearing a key milestone,” Clube said.

“Those studies are important to better understand the tight gas potential of the block so that’s a major thrust for us and we’re also looking at possible new opportunities in India as well.”

Earlier this year, managing director Bruce McCarthy, who has more than15 years experience working in India, relocated to the country to manage the company’s assets and growth.

Clube said the relocation of McCarthy was a deliberate measure to build on the Indian assets.

“Doing business in India has its challenges but we’ve got an edge with having an existing organisation and Bruce’s experience, contacts and relationships.”

Clube also said the company was looking for opportunities in Southeast Asia to build its asset portfolio.

[boysy]

Finaly some good news from Wk and wa 388 should be a big day tomorrow

[boysy]

WK resolution in OEX favour - http://www.asx.com.au/asxpdf/20100624/pdf/31r01y8tvdx9n8.pdf

WA 388-p - http://www.asx.com.au/asxpdf/20100624/pdf/31qzx7n0yy2jgf.pdf

could oilex actually be turning a corner looks like they have a few things going right for once up over 30% currently on the AIM could be a big day tommorow

[boysy]

should be an update on WA soon one would think if the company sticks to its timeline of a drilling decision within the next few weeks

[boysy]

Looks as though things in India are ticking along lets hope we get a update on WA 388p this week and WK

July 5: An appraisal drilling programme by the Aussie E&P major Oilex Australia is likely to test significant plays in the Cambay basin block in Gujarat. Top petroleum ministry sources told Indian Petro News on Monday (July 5, 2010) that the operator may launch the programme -- in fresh zones of the block -- after July 20, 2010. Major untested plays in the contract area are likely to be explored under the appraisal programme. Oilex has slotted two intervals -- Eocene and OS II -- after evidence of substantial in-place wet gas resources was established in the block. Petroleum ministry has already green-lighted the project which includes enhancing recoveries from untapped areas to commercial rates.
8Oilex wants to establish the commercial viability of oil and gas production from a number of zones identified in its previous drilling campaign at Cambay. The petroleum ministry recently endorsed a separate proposal 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 and 3 million standard cubic meters per day of natural gas.
8Two wells -- Cambay-74 and Cambay-64 -- are currently producing at an average daily rate of approximately 320 barrels of oil per day (BOPD) and 1,150 million cubic feet a day (MMCFD) of associated gas. The Cambay-75 -- with an estimated 5-15 million barrels of oil in place potential resource -- is being added to the current production stream

http://www.indianpetro.com/

[boysy]

nice pop today on large volume lets hope this is a good sign up 1.5 to 11 cents today.

[boysy]

strongly up on the as today to finish at 12 cents. Currently charging ahead on the aim up 43.8% so far should be an interesting day tommorow

[boysy]

still no ann will trade sideways until we have confirmation as to what the plan is next. Would be great if we get WA-388P drilling decision out then there is plenty about india and indonesia

[boysy]

Very interesting quarterly particularly India and WK - SPE aparently have drilled pendalian 4 well without consulting OEX will be very interesting how everything sorts itself out

http://www.asx.com.au/asxpdf/20100727/pdf/31rj4svr7f1mb1.pdf

[boysy]

http://economictimes.indiatimes.com/news/news-by-industry/energy/oil--gas/GSPC-strikes-huge-gas-reserve-in-Cambay-basin/articleshow/6230713.cms


AHMEDABAD: Gujarat State Petroleum Corporation (GSPC) is learnt to have struck a huge cache of gas in the Cambay basin of Gujarat. GSPC, in a joint
venture with Australian exploration & production (E&P) company Oilex, has found around 20-22 trillion cubic feet natural gas reserve, probably the biggest onshore gas find to date, sources in the Gujarat government told ET.

"The logs from data collected by drilling wells in the block show that we have probably run into 20-22 tcf of natural gas entrapped in the Cambay basin. However, it is geologically trapped gas in tight formation (difficult to extract commercially)," a state government official said on condition of anonymity.

However, the corporation is not going to town with the discovery. A major reason behind the subdued excitement among the GSPC brass is the highly low recovery factor of its latest find.

An industry expert said: "It being tight gas, the operational expenses to recover this gas would be higher. Also, the quantity recoverable could be much lower. GSPC-Oilex would be more than happy to commercially recover even 2 tcf of this find."

Another reason for GSPC underplaying the gas find could be traced to its much-hyped discovery of 20 tcf in the KG basin in June 2007. State chief minister Narendra Modi, who was in his election year, announced the discovery amid much fanfare, terming it as the biggest gas find in the country then.

However, the upstream hydrocarbon regulator, the Directorate General of Hydrocarbons contested the claims, and has till date ratified a gas find of just 2 tcf.

A gas industry source in the know of events said, "Analysing tight gas is a difficult job. Oilex appointed three different consultants working in North America, and apparently all of them have confirmed that there is plenty of gas in the basin."

The latest gas find by GSPC-Oilex is significant as it is onshore gas, which is relatively easier to recover and monitise. The DGH will have the final say for establishing the exact quantity of gas.

[roget]

http://economictimes.indiatimes.com/news/news-by-industry/energy/oil--gas/GSPC-strikes-huge-gas-reserve-in-Cambay-basin/articleshow/6230713.cms


AHMEDABAD: Gujarat State Petroleum Corporation (GSPC) is learnt to have struck a huge cache of gas in the Cambay basin of Gujarat. GSPC, in a joint
venture with Australian exploration & production (E&P) company Oilex, has found around 20-22 trillion cubic feet natural gas reserve, probably the biggest onshore gas find to date, sources in the Gujarat government told ET.

"The logs from data collected by drilling wells in the block show that we have probably run into 20-22 tcf of natural gas entrapped in the Cambay basin. However, it is geologically trapped gas in tight formation (difficult to extract commercially)," a state government official said on condition of anonymity.

However, the corporation is not going to town with the discovery. A major reason behind the subdued excitement among the GSPC brass is the highly low recovery factor of its latest find.

An industry expert said: "It being tight gas, the operational expenses to recover this gas would be higher. Also, the quantity recoverable could be much lower. GSPC-Oilex would be more than happy to commercially recover even 2 tcf of this find."

Another reason for GSPC underplaying the gas find could be traced to its much-hyped discovery of 20 tcf in the KG basin in June 2007. State chief minister Narendra Modi, who was in his election year, announced the discovery amid much fanfare, terming it as the biggest gas find in the country then.

However, the upstream hydrocarbon regulator, the Directorate General of Hydrocarbons contested the claims, and has till date ratified a gas find of just 2 tcf.

A gas industry source in the know of events said, "Analysing tight gas is a difficult job. Oilex appointed three different consultants working in North America, and apparently all of them have confirmed that there is plenty of gas in the basin."

The latest gas find by GSPC-Oilex is significant as it is onshore gas, which is relatively easier to recover and monitise. The DGH will have the final say for establishing the exact quantity of gas.

The fact that the find has been ratified to 2TCF and is on shore is what makes this interesting imo!

[boysy]

it hasnt been ratified that was for another find of the same sort of volume initially expressed around 20 tcf. The sp up to 13 today you have to wonder when the company will make an announcement itself the gas is worth sfa unless they can get it out of the ground one has to remember but if the find is 20 tcf thats an awful lot of gas

[boysy]

up another 1 cent up to 14.5 cents

updated 6 month price target 17cents

http://www.oilex.com.au/index.cfm?objectid=45DE8E77-1372-5CE6-246905BC6FF74AE0

[boysy]

strong day on the aim up 12% overnight can it keep up the momentum

[boysy]

Still no ann out the company is certainly holding up well considering at 13 cents

[boysy]

no ann out yet the sp seems to be holding in the 13-3.5 cent range they must have news out about India or WA in the next few weeks if the news articles are any thing to go by

[boysy]

up 1 on good volume to 14.5 seems to be some buying pressure starting to step up a positive ann on any front would be expected anytime now

[boysy]

up 25% in the first few mins with 4 million shares traded up to 17.5

[boysy]

up to 18 cents 6 million shares traded hands ( some 3% of the entire shares on issue)

[boysy]

ended the day on huge volume up 32% at 18.5 on 16.2 million volume

[boysy]

up 128% on the AIM so far today

http://www.iii.co.uk/investment/detail?code=cotn:OEX.L&display=news&it=le

[upside_umop]

Nice work on these ones boysy...what made you get into them in the first place?

I had some but sold at a loss. Would have been doing alright now...

[boysy]

Well i followed them down via my holding in ppp bought in once cash backing was greater than the sp. They certainly have a huge task ahead of them but the sp was double this on the thrill and drill in the timor sea so plenty more upside especially if the action in the UK is anything to go by up 140% for the day

[boysy]

Looks as though its going to be a ripper at the open millions of buys up to around the 30 cent level

[boysy]

up 38% on opening to 25.5 cents on 3 million turnover

[boysy]

So take two in India recently bought back in after the cap raising this could move if they get a decent flow

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11885700

[boysy]

Looks like oilex are about a month away from finding out if the first horizontal fracked in India has the goods.

[boysy]

Things seem to be humming along nicely in the up up another 5% to be ~ 8.9 cents aud equivalent on 8M volume

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=AU000000OEX8GBGBXAIM

[boysy]

Up another 20% on the aim over night on turnover of 36m shares on Ann the well has reached total depth

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=AU000000OEX8GBGBXAIM

[boysy]

Up 20% on the aim on 13m volume looks like next week is going to be big for oilex with the well about to be fracked any day now

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=AU000000OEX8GBGBXAIM

[Joshuatree]

Hi boysy do you trade oex based on announcements etc.? I see oex has made losses from 2009 on. Whats your angle here be int to know / cheers jT

[boysy]

Right now it's all about the cambay horizontal drill which has been completed and is likely to be fracked this coming week.

https://www.oilex.com.au/docs/default-source/announcements/140307-cambay-77h-well-spuds.pdf?sfvrsn=0

Gas prices in India are around Us$8 mmcf currently so if they get a flow above 3-4 mmcf day these shares will be rated significantly higher. The options seem to offer the highest leverage at present and are not expensive considering the strike price is only 15 cents and they have over a year to run.

[Joshuatree]

So take two in India recently bought back in after the cap raising this could move if they get a decent flow

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11885700

Re a 4 year gap boysy The share price went up re 140% in one day and 20TCF was it and ...and.. then what happened?. Im assuming you played it right and sold on the rumour.It can be fun trying these sorts of investments with a tiny % of your speccy money but in my experience its like buying a lotto ticket with $10 and top prize is $40. Risk risk risk. But you've been doing this along time i ve seen your ticker around on other sites.Trading in and out and specialising? what sort of return have you really made out of oilers in the last re 5 years? Thanks JT

[boysy]

Oex still trucking along up another 67p on the aim was up on large volume on the asx to 13.5 cents with fracking a matter of days away commerciality could send this flying. Options appear to still be seriously undervalued at 1.6 cents with a strike price of 15 cents and still plenty of time to run being sept 15 expiry 2015.

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=AU000000OEX8GBGBXAIM

[boysy]

Looks to be finding some legs on a very positive Ann up 30% on the aim on 18m turnover

http://www.rns-pdf.londonstockexchange.com/rns/8419M_1-2014-7-21.pdf

Options and heads on the asx should fly tomorrow

[boysy]

Still powering on up over 40% to 9.4p on the aim with to of 35m shares looks like trading on the asx could be interesting tomorrow. With the aud equivalent at around 17 cents the options would be in the money.

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=AU000000OEX8GBGBXAIM

[boysy]

AnOther strong day on the aim up 20% currently to 10.5p or 19 odd cents aud equivalent on 20m volume so far

http://www.lse.co.uk/SharePrice.asp?shareprice=OEX

[boysy]

Ended on 10.75p ( up 22%)or 19.5 cents aud on 62M volume should have a decent day on the asx at this rate the sp has risen from 11.5 cents on Monday and is forecast to touch close to 20 cents today

[boysy]

Another up day on the asx up to 21 cents on 3m volume

[boysy]

Looks like this coming week will confirm if the well is commercial or not this really could be a Hail Mary shot for oex if it comes above expectations this should fly