charlFirstly let me state that I have 7 figure holding in OEX...

charl

Firstly let me state that I have 7 figure holding in OEX and my life in retirement would be a lot more interesting if the OEX SP was where I expected it to be when I first bought into the company.

The ASX announcement this morning was released on the London Exchange just after the market closed last Friday evening, so buyers have had time to digest its contents. Personally, I am only interested in the Rig if it is drilling - being operational and not working does nothing for progress.

In keeping with OEX traditions we were not given a time line on when the drilling will start so it could be hours, days or weeks. The annoucement again gives us the order of activities to be undertaken but without any dates, so we can only conclude that activities will be completed whenever it happens. From personal experience managing very large projects, the role of management is to make things happen when they are planned to happen. Accordingly, recent OEX announcement do not inspire me with any confidence but I continue to hold the shares in the fading hope that I am very wrong in my assessments of RM and his abilities.

Cheers

R1