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OEX

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77-H early oil production, page-40

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rustydog63

175 Posts.

30/07/14

19:15

Post #: 13740774

Originally posted by chillam ↑

Here's some more interesting, relevant and constructive posts from our friends at Interactive Investor, UK, that seem to fit this thread:

Date/Time Subject Author Votes All 1+ 2+ 3+ 4+ 5+ 10+ 20+ 50+

1 09:33 Re: Testing & revenues Joatmon

2 I would expect Oilex to continue with a long term production test of Cambay-77H for several months - and this would accomplish several things:1. it would provide revenue from the oil and gas sales (assuming they hook up the well to production facilities to handle the gas).2. It would provide valuable data on the performance of the well/reservoir regarding the production capabilities and fluid gas properties as well as the reservoir depletion rate.3. It would allow for a reserves upgrade to bring at least some of the Contingent Resources into the Reserves category.4. It would please the markets and the investors.joatmon

3 09:04 Re: next well HPC Follower

4 Quite right Joatman, and we will need quite a bit of revenue from the sale of oil/gas produced by Cambay 77-H in particular, if we are to avoid any serious SP dilution to get the funds needed. No doubt we will be told how many extra wells will be needed to fully exploit the Cambay field in a few weeks.Hopefully, revenues will start to quickly exceed the costs so OEX stops working "on the edge" financially; and that the extra revenue from each well will help meet the costs of the next one. If we are to make any money from our investments in OEX, further share placements have to be avoided - or those taking those placements will potentially make much more than we ever will...

5 Tue 17:41 Re: next well Joatmon

6 Oilex does not have a rig on location for the present well (Cambay 77-H) it was released weeks agilex is using a crane and a coil tubing unit - and I imagine the coil tubing unit has probably been released. The planned 5 new wells will require long lead items such as wellheads and casing, as well as a rig and well services - all under contract. I would think about 5 - 6 months before a new well is spudded - unless Oilex have already sourced some of the long lead items and a rig.joatmon.

7 Tue 13:59 Re: next drill HPC Follower

8 All the residual drilling of wells in Cambay are contingent on the success of Cambay-77H.It is highly likely that they will keep close to their current base, drilling down angled in slightly different directions, with horizontals to suit, unless they decide a second, base is needed for resilience or that they should drill with particular spacing. It would be good if OEX were to publish and exploitation plan with their next reserves statement.Since this is not OEX's drilling rig, they will have to wait until a rig can be freed up from other work.

Expand

Guys,
I believe the Drilling Rig is parked up alongside the 77H Land Plot and awaiting the outcome of the Flow Test. If 77 H is Commercial the next 3 Wells will be drilled at 77H Plot but spear off to the other 3 points of the Compass.
Rusty

OEX Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held

8 Upvote

0 Great analysis

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	Date/Time	Subject	Author
1	09:33	Re: Testing & revenues	Joatmon
2	I would expect Oilex to continue with a long term production test of Cambay-77H for several months - and this would accomplish several things:1. it would provide revenue from the oil and gas sales (assuming they hook up the well to production facilities to handle the gas).2. It would provide valuable data on the performance of the well/reservoir regarding the production capabilities and fluid gas properties as well as the reservoir depletion rate.3. It would allow for a reserves upgrade to bring at least some of the Contingent Resources into the Reserves category.4. It would please the markets and the investors.joatmon
3	09:04	Re: next well	HPC Follower
4	Quite right Joatman, and we will need quite a bit of revenue from the sale of oil/gas produced by Cambay 77-H in particular, if we are to avoid any serious SP dilution to get the funds needed. No doubt we will be told how many extra wells will be needed to fully exploit the Cambay field in a few weeks.Hopefully, revenues will start to quickly exceed the costs so OEX stops working "on the edge" financially; and that the extra revenue from each well will help meet the costs of the next one. If we are to make any money from our investments in OEX, further share placements have to be avoided - or those taking those placements will potentially make much more than we ever will...
5	Tue 17:41	Re: next well	Joatmon
6	Oilex does not have a rig on location for the present well (Cambay 77-H) it was released weeks agilex is using a crane and a coil tubing unit - and I imagine the coil tubing unit has probably been released. The planned 5 new wells will require long lead items such as wellheads and casing, as well as a rig and well services - all under contract. I would think about 5 - 6 months before a new well is spudded - unless Oilex have already sourced some of the long lead items and a rig.joatmon.
7	Tue 13:59	Re: next drill	HPC Follower
8	All the residual drilling of wells in Cambay are contingent on the success of Cambay-77H.It is highly likely that they will keep close to their current base, drilling down angled in slightly different directions, with horizontals to suit, unless they decide a second, base is needed for resilience or that they should drill with particular spacing. It would be good if OEX were to publish and exploitation plan with their next reserves statement.Since this is not OEX's drilling rig, they will have to wait until a rig can be freed up from other work.

77-H early oil production, page-40

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