Calm before the storm., page-30

Ok, how about this for another take re announcement timings.

Knowns/Assumptions (Not exhaustive)
. Ron is not completely incompetent or stupid (A).
. Ron not only acts in accordance with his fiduciary responsibilities but also his personal interests as a substantial share holder (A).  
. We don't know Magna's ultimate intentions regarding OEX/Cambay (A/K).  
. Ron reported immediately on initial positive well response after plug milling (K).
. Initial strong flow rates: over pressure, flaring gas, greater than expected flows of condensate/light oil API50 (K).
. No indication of any negatives following original 21/7 announcement or Quarterly Report (K).
. Magna has previously expressed satisfaction that Ron has been meeting timing-line and expectations (K).
. Ron gave no specific timings of next announcement (K).
. "Oilex will advise the market of a stabilized flow rate via a production test once frac fluid return and clean-up operations have been completed" - from both 21/7 & 4/8 announcements (K).

Conclusions
. Ron has Cambay matters under control and is progressing.
. Clear & strong repeated statements by Ron of his intention to proceed with stabilising flow rate and advising the market via a production test once frac fluid return and clean-up operations have been completed.
. Progress with clean-up/stabilising flow rates has not been completed and/or production testing has not reached a stage where Ron feels obliged to report to market.
. No major problems as Ron would be required to report (materiality).

Strategic Perspective
This does not preclude Ron from playing matters strategically and making the next announcement when he has overwhelming/indisputable news on commerciality, one way or the other.

If the news is positive it will ensure the market has the opportunity to set a fair market price before any take-over offers are forthcoming.

Thereby, cutting off any low-ball offers on positive but inconclusive news. Remember Magna is being advised by one of the very best O&G operators with huge depth of knowledge of the Indian/Cambay oil situation.

It would also allow a statement laying out a clear & detailed plan for field development, the next wells etc and/or sets out details of a take-over offer.