OEX 20.0% 0.6¢ oilex ltd

I was not expecting the next announcement until next week...

  1. 3,423 Posts.
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    I was not expecting the next announcement until next week because OEX stated the following:

    'Oilex intends to inform the market about progress during drilling operations on a milestone basis as indicated below.
    ? Setting and cementing of the 13 3/8 inch casing at approximately 590mMD
    ? Setting and cementing of the 9 5/8 inch casing at approximately 1,650mMD
    ? Completion of drilling operations at well TD, approximately 2,357mMD
    ? Setting and cementing of the 4 1/2 inch production casing
    ? Completion of mobilisation of the fracture stimulation spread to site
    ? Completion of the fracture stimulation programme
    ? An announcement in relation to flow back and production testing will be dictated by the well response to the stimulation programme'


    Also earlier OEX stated:

    'we expect to have a flow-rate result by end Q2/early Q3 CY14.

    The critical well activities are the following:
    30 days drilling
    5 to 7 days fracture stimulation after rig demobilisation
    6 to 8 weeks well clean-up and production testing'


    Therefore still months to go until we have a flow-rate result.
 
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