Hindsight is a wonderful talent but it looks like we were all expecting too much from this well .
Tight gas plays seem to be taking a lot of work and money to get right - even like this one when they don't have free formation water and tight oil plays are harder still .
This is another reason why I favour Oilex reducing interest rather than issuing more equity .
The mixed results to date from the guys in the Cooper Basin , Transerve and Norwest in the Perth Basin and operators in the Baltic Basin in Poland have been no better and they've drilled and frac'd more wells .
They did say it was a proof of concept well . They've proved the concept but not commerciality .
OEX Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
