Ann: Trading Halt, page-12

Sorry to disagree, but I think most have overestimated Ron. He has been on the board for 7 or 8 years and seen the share price fall from 60c to 4c and dilute the company by a factor of about 5. He tried to sell a stake in Cambay, but the Indian Government did not approve, probably because he tried to do it in the middle of an election campaign, not smart! He has raised money by drip feed and sold the company at 5c to Magna (for 18%). I look for the positives, but search in vain. These guys don't know how to raise money, their chairman has been on many boards of small companies that have not succeeded, the last two wells were not well managed, there are still no proven reserves (he tries to fool everyone with 2P numbers). 1P, that is proven reserves are NIL, ZERO, NADA. Risk report is clear, Ron published the results. Not everyone on this forum reads the reports or understands them, but clearly the market understands and that's why the shares are going nowhere. Let's see some real management, I might be tempted to bet on a Magna takeover. Oilex assets are great, just needs good management, Mike Watts has proved his skills. After 8 years, Ron is still to make his mark. Surely the sp cannot see less than 4c. Worth a bet. Options are dead.