Testing times indeed. Glad I disposed of my heads some months back but still kept and bought further oppies,
which on average are at half their price currently.
Problems are to be expected {and we've had plenty of them with 77H-albeit ALL solved now apparently, unless
any new ones crop up in the interim}. Getting past 10 weeks now since the great ann of 21/7 detailing light oil &
gas flowing to surface with 40% of frac water recovered. 10 WEEKS!
I personally still contend that 3 weeks maximum should be enough time to recover the remaining 25% of the
original frac water PLUS the additional water used for flushing of the well-bore, IF the well is flowing back
even 2/3's of what it achieved over the first 8 days.
If no announcement by the middle/end of next week I think it is looking very grim indeed for Oilex. The well
simply refuses to clean-up, whether that is due to a loss of pressure or a botched frac/proppant job who
knows. A lot of things missing from anns including gas flows {should have at least got the first 8 days worth
when the flow-back was unhindered and optimal}, amount of shut-down time, quantity of extra water used
in flushing treatment etc etc.
Anyway, would love to be proven hopelessly wrong. Been with the "story" for 5 years or so now.
GLTAH
OEX Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held