Timtator , I also admit to being an earlier buyer in Tangiers ;...

Timtator ,

I also admit to being an earlier buyer in Tangiers ; foolishly on hype of Morocco prospectivity about 3 years ago when Pirate Pete Landau's Range Resources bought an investment stake in Tangiers (which it subsequently had to sell) .

Fortunately I've learned something since those early days or I would be bust by now and even though I reduced my position did not have the courage to sell out completely before the drill .

However , could Oilex and Tangiers be much more different ?

- Tangiers are (were) an exploration company . Oilex are a technology transfer company (their terminology) .

- Tangiers is about mainly risk of discovery and involves very expensive offshore drills requiring ceding control to partners with deep pockets . Oilex is about moderately expensive onshore drills where the risks are technical and commercial with very low risk of discovery - the hydrocarbons are known to be there .

The technology which Oilex are transferring from the North American shale gas fields is becoming better all the time and they are learning more about the basin .

There is a company operating onshore Ireland ( Infrastrata) which has just seismically imaged beneath basalt . If Oilex could do this it could open up a tremendous resource below the X-Y-Z zones which the current resource estimates are based on .

Then we have the Canning acreage .

I've got a fair few shares and earlier this week purchased 100,000 options at 1.4c .