I assume you are referring to the drilling program - I don't know the reason but the delay could be due to several things such as:
1. The rig or frac equipment could be delayed for some reason such as completing an existing well for another operator, prior to coming to Oilex.
2. The government approvals of one or more of the tender evaluations and awards could be delayed for several reasons, such as negotiating discounts, or revised work scopes, resolving exceptions to the terms and conditions, etc.
3. The program and locations are still being refined in the light of more recent reservoir data, or waiting on additional reservoir interpretation data.
4. Delayed deliveries of casing or other tangibles.
5. Weather considerations.
It could be something completely different to the above or a combination of several factors I am unaware of - you really do not want to start the clock on these large expenditures until you have everything in place to complete the program.
OEX Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held