News: Oilex sees “significantly improved performance” in Cambay 77-H well, page-31

I think that you MAY be right, but I look at what is NOT said as well as what IS said. Having been in a leadership position in other more open companies, I am wary of the lack of detail on pressures, the lack of volumes being returned, the lack of gas flow and the lack of information. My humble opinion is that its downhill from here. If you think the price will recover, sell now and buy back in at 4 cents.
What price will Magna offer? I'm guessing a low number. If Magna buys up, do the same. in that situation, it is likely that Magna will change the management. that alone will give the company a great potential.
GLTAH. I wish only the best for all investors. follow my strategies at your own risk.