I'm a UK investor who has held Oilex since before they dual listed on AIM .
Generally I prefer to take a currency conversion hit in order to purchase Nasdaq , TSX , ASX even TSX-V shares in order to get a semblance of regulation and propriety .
Most companies which list in London do so for one of two reasons ; i) they can't raise money anywhere else ii) the owners/directors are charlatans .
Oilex fall into the former category and stand out against the usual dross which dual list in London (Pete the pirate Landau's Range Resources and Tangiers Petroleum ) .
I've met Ron Miller and imho he's on the level and as has been shown is able to formulate a plan and execute on it .
My concern is that Cambay gas is not that close to pipeline specification (high CO2) and looks like it will require processing .
The Canning licenses offer significant scale of 600,000 acres of source rock and a couple of million of platform .
Sell off's in London are to be expected as the sophi's make sure they don't take any drilling risk .
I'm quite happy with my position and may even top up if the sophi's get desperate .
OEX Price at posting:
7.3¢ Sentiment: LT Buy Disclosure: Held
