When you look over all the situations that Oilex is deep in the midst of and obviously juggling at the moment (according the last 10 months new releases) - the news that is likely to come by Christmas (when confirmed by the Board) is just mind boggling !!
When you understand all the pending situations, FLOW rates, newly recovered oil and gas analysis, Acreage licensing extensions pending, pipeline building/hookups, Indian Govts encouragement for Indian produced gas/repricing schedule, Cambay forward plans - (pending results) , Recent major oil strike by other Drillers in the offshore Canning region, OEX Canning basin surveys being picked over by possible oil majors/potential major farmins/selldown/drilling plans. I remain pro OEX and pro its already observed rerating which in my opinion has just begun to scratch at its potential.
All of this is my read on the company and its solid progress made over the last year bearing promising fruit. With Rons stable hand (often observed as a little slow) on the tiller I have faith in a great progression over the next period of time.
OEX Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
