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20.0%

0.6¢ oilex ltd

Ann: Agreement with GSPC on Cambay-78 Well-OEX.AX, page-5

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strauss

22,120 Posts.

20

23/10/16

13:25

Post #: 20059205
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Originally posted by blackhat ↑

In my opinion, I would wait until there is some information about the vertical well before investing funds from here. If the depth is good and the money is there, it has the potential to be a game changer. the fact that it is a sole risk well will put GSPC on the back foot and make them look like the idiots that they really are.
BUT, there's no money, any sort of capital raise would have to be at $0.007. they would need about $15 million. that another 2 billion shares. total on market would be 3.2 billion. a consolidation 10/1 would increase share price to 7 cents and 320 million shares on market.
as history has shown, the willingness to respect company owners is ZILCH. they are there to foster personal gain. professionalism is dead and buried here. RM killed it, Chairman is arranging the funeral and he is probably going to make a profit from it.

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understand the sentiment but for me these sort of plays represent great punts, buying at lows when very few are willing to commit.

as you say the potential asset value is possibly there but with question marks over it

this is mainly an improving oil price bringing more interest and boosting the sector play for me

see how we go

OEX Price at posting: 0.9¢ Sentiment: None Disclosure: Held
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