Flaring Gas, light oil for sale, page-68

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mandurah

893 Posts.

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21/07/14

23:57

Post #: 13693186
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Originally posted by mandurah ↑

Yes Chill, not many moments like this that's for sure. And once again, so fortuitous for us to have retained 45% rather
than 30%. 21/7/14 is a day I'm not likely to forget in a long time. All our chickens are starting to line up, not all counted
yet admittedly, but could we have an Eagle Ford or Bakken shale on our hands here?

If so, then through happenstance {or was it a cunning plan from RM?} magna failed to get their cheap ride for 15%.
They were going to convert 15% equity at {what was it now-5c or 7c a share?--so many POTENTIAL figures running
through my head now I'm a bit lost}. Now that would be the cherry on top if the flow rates post clean up are on the high
side of 6mmscfd or heaven forbid, higher.

Some very interesting times ahead over the next few weeks, both from a possible T/O point of view and from post clean
up flow rates. If they want to take Oilex out they would want to do it before final flow rates are announced imo. If the rate
is up around the 6mmscfd or higher then its going to be a hell of a lot more expensive, if not impossible. A decent premium
would have to be paid with a proven field and plenty of $$ in the kitty with the exercise of all those options. Of course, there is
the possibility that flow rates do not reflect the early promising signs, but hell, I don't want to think about that, not on the
21/7/14. Leave that for the 22/7/14.

Onwards and Upwards fellow holders.

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From Interactive investor post ;

" TwoHearts
Posts: 286
Off Topic
Opinion: No Opinion
Price: 7.23
View Thread (2)RE: Material UpsideToday 10:46OEX kept 45% share of Cambay, therefore giving NET to OEX

37.5 MMSTB Oil C2 + 63 MMSTB Oil P(50) = 100MMSTB OIL
223.5 Bcf gas C2 + 421.5 Bcf Gas P(50) = 645 BCF GAS

Going of a 5% value with using an oil value of $100/bbl and Gas valued at $8/Mcf

Values OEX at £450M or 75p per share

Mmmmmm, I would be happy with half that.

OEX Price at posting: 11.5¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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Flaring Gas, light oil for sale, page-68

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