Guys, I see todays announcement as a posative in a couple of ways. All we got today was exactly what RM said we would on 17/11 :
'Oilex intends to announce the successful recovery of the instrumentation and data followed by an announcement regarding the flowback and test results after a preliminary analysis of the data has been completed.'
So no downhole dramas retrieving the tool. Secondly he stated:
' 300 hour shut-in period, where data will continue to be recorded and monitored. This period may be extended depending upon the well response.'
It appears to me that they were happy with the well responce so no need to extend the recorded period.
I agree that we need more info to determine if we are to participate in the SPP and I am expecting another announcement within 5-7 days on preliminary flowback results with a fully datailed analysis in due coarse.
OEX Price at posting:
5.7¢ Sentiment: Hold Disclosure: Held
