OEX 20.0% 0.6¢ oilex ltd

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  1. 893 Posts.
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    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
 
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