OEX 20.0% 0.6¢ oilex ltd

Ann: 2014 Annual Report to Shareholders, page-34

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  1. 893 Posts.
    lightbulb Created with Sketch. 9
    Fair call Joatmon. Whilst SLB are only human, I don't think they are of the sub-standard quality you may have
    inferred in the previous post.

    Cambay failed as a result of cheap drill pipe and other sub-standard equipment, I was holding stock at the time at
    4 x the price they are now.

    At least some concession on your part re; "I think Oilex flowed back 77H too fast initially and that caused the fractures to collapse and heal - that is why they are now flowing back at a low rate." Well it is either that,
    {we don't know the opening choke level over the 1st 8 days} v the 22/64 now given, or it has the be incorrect
    popane/gel-water mix in the frac. If either one of these 2 prove to be severe enough to have closed the fractures
    completely then don't expect much oil from this well, apart from the amount that has already managed to "escape".
    It will depend on the severity, hopefully enough is still escaping to give us a "reasonable" production test.

    That is why it isn't unreasonable I would have though to give an update shortly in relation to the 229 bow/oil
    per day being recovered and the pressure levels also, especially in lieu of the long wait until this point.
    Anyway, one can hope on that point.

    GLTAH
 
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