OEX 20.0% 0.6¢ oilex ltd

Thanks for those great posts Chillam, especially the feedback...

  1. 893 Posts.
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    Thanks for those great posts Chillam, especially the feedback from the other forum. SP over the next few weeks
    will be interesting. It may however take 6-10 weeks for a full flow rate to be logged. I think from memory OEX
    advised sometime into August for flow rates. So, until some data is gathered from gas/condensate levels in the
    recovered frac fluids the SP may languish. They should have a pretty clear idea from my experience with fracced
    wells in the US, what they can reasonably expect PRIOR to full clean up v initiation of full flow test POST clean up.
    Whether this information will be released as it comes to hand I don't know,but price action should be giving some
    indication if not.

    Ambrian report mentioned about 3 mmscfd as commercial or approximately 500 boepd. Not sure about this, long
    way to go yet--decline rates, EUR, well costs into the future etc etc. I would think that 500 boepd would be a good
    start from a 4 stage frac. This well after all is a CONCEPT well, so we shall learn a lot from it in terms of porosity,
    reservoir integrity, optimum fraccing procedures, decline rates as well as initial flow rates etc. I think that anything
    approaching an initial flow rate of 6mmscfd {1000 boepd} would be a FANTASTIC result and would put the Cambay
    basin up into the league of the Eagle Ford Shale in the US. I note that one of the posters was expecting 10mmscfd
    or 1600boepd, if that were to eventuate from a 4 stage frac only, well, that result would be phenomenal and send the
    SP into the stratosphere. I could never imagine the result being that good.

    So, all ducks are lined up now, another 2 million raised at a decent price, post frac milling operations successful.

    We can only wait now for THAT figure, 2mmscfd, 4mmscfd, 6mmscfd or heaven forbid, HIGHER.

    All will no doubt be revealed over the next month or so.

    GLTAH
 
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