oex starting to move, page-5

Hey Ian,

Roma have approx 5x as many shares on issue as Oilex...

If success at Connolly is valued at around $5 / share to OEX,

then success at Connolly for Roma would be valued at around $1 per share + extra 10% interest in permit + royalty ( 4% ish from memory )....

As you can buy 3 RPM for Every 1 OEX...Roma share price would have to reach $1.70 to match OEX at $5....

I haven't adjusted for escrow......When do they come out of escrow?

Both companies seem to have good leverage but I prefer to hold OEX given their exposure to upcoming drills ( 88% of Barcoo North at $15 / share on success.......$3+/ share for Rockwood south , etc)...

Be interested in your thoughts/valuation for RPM on Connolly ......


Good luck to thee




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