Rex, PLX, and the rating that's not too complex : 'Buy', page-7

Nice rambling piece snowdown, more verbose than the average.

Not sure what you refer to that you have been reading and listening to.

But there was a interview of Messina put out today where he discusses what they will do next.

It should be borne in mind that PLX and WBE have been burning money. They are still burning money. Whilst they have made a great discovery, and I do mean GREAT. It is great because Rex can make it possible to start making money. It cost money to drill, frac and test. There will be nothing else happening but the development of the Rex oil field.

In the interview Messina says they stopped testing though oil flow rates were still increasing, because they will make more profit per barrel after the pipeline connections are built and the permanent facilities are built. From the photo you can see a heap of trucks and gear standing around costing money.

Also in the interview Messina used the term “wells” plural in reference to developing the Rex oil field. Weeks ago PLX said they had put the other exploration well on hold to focus funds on the good results at Wizard Lake Rex.
They need to monetise the Rex oil quickly.

He said oil production should be started in the second quarter. In WA you wouldn’t have your permits to do anything by mid June.
When the next wells start was fairly ambiguous. Obviously the sooner the better. Winter is the main drilling season as the ground is frozen so heavy bech