Sure wasn't Grizzle. I am after all a holder and my sentiment is...

Sure wasn't Grizzle. I am after all a holder and my sentiment is hold, albeit Tails only at this juncture.
I have been invested in OEX for 5 years now. I wish them every success but I call it as I and the market
obviously see it. The statement as regards imminent insolvency refers to shares in general that I have
observed trading right up to insolvency with buyers still present. A basic observable fact. It does not at
all infer OEX. We have $7 mill in the bank and the SP did rally 20% Friday, so hardly insolvency on the
horizon.

What irks me is the reporting pre 21/7 when all was good v post 21/7 reporting when all has been bad.
Pre 21/7 we had informative updates requiring no guess work, we even had bopd and bowpd recovered
in the 1st 8 days up until 21/7 albeit 4 days later in the quarterly. We had relative pressure levels, levels
of API, original barrels of frac water injected etc. Post 21/7 we have had bad news delivered {sometimes
weeks after there occurrence} only to see the SP walloped in the interim. The bad news has been sadly
lacking in detail for mine also. No amounts given for additional bow injected to flush the blockages, no
updates on boo recovered or sales thereof, no mention of choke setting in first 8 days v now, very late
notification of frac tree leaks, tools lost down hole etc and no indicative time-line from last ann when
clean-up could at least be expected to finish.

Look, I think 77H has been poorly fracced on reflection and on the available evidence. They simply
got their fracture process wrong in light of the 300% more oil than originally expected. They were
expecting almost a dry gas well I'd say rather than a wet well. This is critical in terms of the propane/
water mix used. An expected wet well would require more propane/gel in order to open up the
fractures more as the oil would be harder to flow. I think they've under delivered heavily on the
propane in their frac mix here.

Anyway, that's no big crime, we all get it wrong. We learn from our mistakes. It's just the reporting
that leaves a bit to be desired.

Having said all that, if there is no news for another 2 weeks I don't think it bodes well. That should be
sufficient time to remove the paltry 14% of frac water remaining. {76% recovered so far, 90% rec for
a production test to begin} even at 229 bow per day.

I continue to hold and hope for a production test in 2-3 weeks time {barring any further problems that
may be announced} and that 77H proves to be commercial or marginal.

gltah