News: Oilex climbs as resources upgrade brings production nearer, page-7

Hi HotOilers, as you know Oilex has announced that it has forward contracts in place to supply gas from 73 for a robust (read more than $8 IMO) initial 2 year period.
The 1P reserves are dependant on finance only for development and yes theere may be a CR but also debt financing could easily be offset with the mentioned gas sales about to commence.
Once ann comes through that sales have commenced, that will be the catalyst that we are income producing and I believe tails will very quickly be in the money. Even if all tails are not converted with sales comming in this would cover the bulk of our portion of the work program.
Interesting times indeed I believe peeps are just working out that Cambay is going to be developed and a huge commercial success.