Ann: 2014 Annual Report to Shareholders, page-11

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tbaulch

436 Posts.

18/10/14

06:31

Post #: 14143346
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Originally posted by Joatmon ↑

You may be right - but the relatively poor well performance is because (as has been stated many times) the well is still loaded with frac water. We need to see what the well delivers when the water is not a significant factor and that takes time - weeks.

This is not a normal vertical well, it is a baby horizontal well in a tight shale formation and these wells taken weeks to clean up on a small choke so as not to damage the formation deliverability. If you crank open the choke you can clean this well up quickly but you will also screw the well up, the fractures close or get clogged up (as happened initially with this well).

I may be wrong but it makes sense to me for Oilex to want to keep this well as a long term producer (an early benchmark well) to see how it performs over time (this well will be a relatively modest 'keeper' in my view), and not a 'flash in the pan' attention grabber soon to die, designed for gulible investors to throw money at.

So I think it is pointless castigating Ron / Oilex for not giving the information you think they should do, or saying they don't know what they are doing - you are not there in the field in India and neither am I.

I think Ron is right and patience is needed for a good result, not earth shattering but enough to confirm commerciality and to justify a pilot development of the field.

My advice is to hang in there and don't get to teed off with the waiting.

joatmon

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Oex last night closed up 19.35% on a t/o of 5.8 on the LSE. Yes I had to look twice.

OEX Price at posting: 7.9¢ Sentiment: Buy Disclosure: Held
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Ann: 2014 Annual Report to Shareholders, page-11

Top Stories

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

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Sales growth pushes Lovisa's fortunes (and shares) upwards

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